RIM’s chairmen could be facing the axe

According to a report by the Financial Post, co-chairmen of the Research in Motion (RIM) board Mike Lazaridis and Jim Balsillie could lose their positions after an extended period of poor performance.

RIM will soon shake up its corporate structure according to reports, which could see Lazaridis and Balsillie lose their current seats on the RIM board of directors.

Independent director and RIM board member Barbara Stymiest is reported to currently be the front-runner to replace Lazaridis and Balsillie.

Stymiest is a member of the committee looking in to whether the co-CEO and co-chairmen roles should be split, and has been a board member since 2007.

Pre-market trading saw RIM’s stock go up by 2 percent after the rumours were made public.

Read the full story at: Boy Genius Report.

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RIM’s chairmen could be facing the axe