Well dont feel so bad for RIM founders and its former CEO’s, the word is Michael Laziridis and Jim Balsillie received some nice parting checks after they quit their gigs at RIM.
BlackBerry developer Research in Motion made payments of $12 million to its founding co-CEOs after they quit earlier this year, the company told the U.S. Securities and Exchange Commission.
Jim Balsillie received $8 million, while his partner, Michael Laziridis, got $4 million; he remains a director of the Waterloo, Ontario, company, while Balsillie resigned as a director.
Both remain major shareholders of RIM, which under new CEO Thorstein Heins has hired JPMorgan Chase (NYSE: JPM) and a unit of Royal Bank of Canada (NYSE: RYC) to advise on its next steps.
Shares of RIM rose 49 cents to $10.89 by the close on Friday. They’ve declined 69 percent over the past year.
[ibtimes]
