Jaguar Racks Up Pressure to Sale or Break-Up RIM
Call for a "transformational leader" is being heard to spearhead a bright future of `Research in Motion'. While there were indications from the company itself in July about shuffling of some of the key positions in the board, Jaguar Financial Corp has openly called for suitable candidates who could replace current co-CEOs Mike Lazaridis and Jim Balsillie.
Apparently, the so called movement by the shareholder is being supported by board members who have minimum 8% stock, however, the number of supporters are expected to rise as long discussion are told to be taking place between institutional shareholders and the campaign members.
It has been known that the embattled Canadian company had been facing cut throat competition from other market players, including Apple, Google, Microsoft, Samsung and HTC, which has plagued the company's profit to a dismal low.
With the running crisis getting attention from media groups, it's being largely believed that the majority is in favor of either selling the RIM in one go or in parts.
Raising the demand further, Jaguar Chief Executive Vic Alboini made his intentions clear that every possible measure would be taken to ratchet up pressure on the management to pay heed to their call.
If sources are to be believed, Jaguar has been pulling out RIM shares from the market, though the exact value has not been ascertained. Though the fight is now in open, the Company has not made any statement about the same.
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