BlackBerry shares fell 13 percent Monday morning on news that the company has abandoned its plan to sell itself to its largest shareholder, Fairfax Financial Holdings. Instead, it has entered into an agreement whereby Fairfax and other institutional investors will invest $1 billion in the company. That transaction is expected to be completed within the next two weeks. When that happens, Sybase chief executive John Chen will assume the role of BlackBerry’s interim CEO, replacing current CEO Thorstein Heins.
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BlackBerry Loses Its CEO, Gets $1B and Yet Another Shot
Posted by: Peter Suciu November 4, 2013 12:39 PMBlackBerry shares fell 13 percent Monday morning on news that the company has abandoned its plan to sell itself to its largest shareholder, Fairfax Financial Holdings. Instead, it has entered into an agreement whereby Fairfax and other institutional investors will invest $1 billion in the company. That transaction is expected to be completed within the next two weeks. When that happens, Sybase chief executive John Chen will assume the role of BlackBerry’s interim CEO, replacing current CEO Thorstein Heins.