RIM to Explore Management Structure Changes
Research In Motion bowed to shareholder pressure today and agreed to study the idea of splitting the CEO and Chairman of the board roles, both of which are shared by co-founders Mike Lazaridis and Jim Balsillie. A committee will be established to explore how the CEO and Chairman roles might be best fulfilled, and will offer a recommendation based on its findings. RIM made the concession after increasingly discontented investors raised the possibility of voting on the matter themselves at RIM's general shareholder meeting, scheduled for next month. The investors behind the vote have rescinded their proposal pending an outcome of the study.
T-Mobile and Sprint Agree to Merge and Unite Under T-Mobile Brand and Leadership
T-Mobile and Sprint today announced plans to merge in an all-stock deal that will create a "New T-Mobile" worth $146 billion. The new company's combined radio spectrum assets will allow it to accelerate deployment of 5G technology.
Eric Schmidt, Alphabet Chairman, to Take Advisory Role
Alphabet Executive Chairman Eric Schmidt this week said he plans to step down from his leadership role on the company's board and will instead serve as a technical advisor to the company. "Larry, Sergey, Sundar and I all believe that the time is right in Alphabet’s evolution for this transition.
Qualcomm Rejects Broadcom's Latest Acquisition Offer, But Leaves Door Open
Qualcomm's board of directors today unanimously rejected Broadcom's revised bid to acquire the company for $121 billion. Qualcomm's board continues to insist that Broadcom is undervaluing Qualcomm's overall worth.
FCC Delays Vote On Incentive Auction Rules
The FCC today removed a scheduled vote regarding the incentive auction rules from the agenda of its open meeting, scheduled for July 16. According to Commissioner Ajit Pai, the FCC delayed the release of some simulation data until just days before the vote.
A simple challenge to RIM shareholders who are happy with current management
Take anything Mike Lazaridis or Jim Balsillie says and translate it into coherent phrases. When they are unable to, their vote should go to change management by default.
How about: name a single question the RIM co-ceos have been able to answer.