RIM re-elects board, sells jet

Research In Motion Ltd's slate of directors was re-elected at the BlackBerry maker's annual general meeting on Tuesday, Chairwoman Barbara Stymiest said.

July 10, 2012 0 Comments
RIM re-elects board, sells jet

Research In Motion Ltd’s slate of directors was re-elected at the BlackBerry maker’s annual general meeting on Tuesday, Chairwoman Barbara Stymiest said.

The preliminary results showed that a significant portion of votes were withheld, including 19 percent of votes withheld for former co-CEO Mike Lazaridis. John Richardson, from whom proxy firm Glass Lewis had advised investors to withhold votes, had 30 percent of votes withheld.

RIM will also sell one of its two corporate jets as part of an effort by the embattled smartphone maker to save $1 billion in annual costs throughout its operations, a report said on Tuesday.

The BlackBerry maker has put its nine-passenger jet up for sale, looking to fetch some $6 million to $7 million, Bloomberg News reported, citing unidentified sources with knowledge of the matter. RIM will hold on to its 14-passenger jet.

A company spokesperson was not immediately available to comment on the story.

Overall, Waterloo, Ontario-based RIM is looking to save some $1 billion in operating costs this year through efficiencies, including layoffs, as its BlackBerry smartphones loses market share and losses mount.

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