Roger Cheng reports that BlackBerry co-founder and former co-CEO Jim Balsillie, one of the company's largest individual shareholders, has dumped his entire stake. [CNET]

7 Responses to “BlackBerry co-founder dumps stock”

  1. l337n00b says:

    Based on the company’s performance during his tenure, I assume nearly everyone sees this  as a positive sign for the company’s future.

    • fuzzyfuzzyfungus says:

      Well, now that he isn’t CEO anymore, Plan A for reducing the value of his RIM holdings to zero isn’t going to work…

  2. That_Anonymous_Coward says:

    As reported by CNET so you gotta wonder if CBS just made them say this….

  3. Dlo Burns says:

    He was going to do it earlier but he accidently set the memo to this year.

  4. s2redux says:

    He sold his common shares at some point(s) during the past calendar year. This news is just about the Form 13G filing, which is required within the first 45 days of the following calendar year. All in all, ho-hum.

    I’m not finding quick info about RIM’s previous dividends, but even if they were great I expect the temptation to score $400M+ in just a few months is pretty hard to resist. The real story can now unfold — which hockey team has he got his eye on? (Or, perhaps, who is about to receive some largesse? Balsillie has given away about $100M over the past decade.)

  5. chgoliz says:

    I do not know, but it is possible part of his “retirement” package included a requirement to sell at least a large percentage of the stock within a certain time frame.  You don’t want the former CEO to be a major shareholder….power struggles don’t help market share.

  6. Brandon Wright says:

    …and another rat jumps ship…

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