TORONTO (Reuters) - Jaguar Financial, a Research In Motion investor agitating for a shake-up, said two independent RIMdirectors canceled meetings called this week to discuss complaints about the BlackBerry maker.
Jaguar, a Canadian merchant bank that targets underperforming companies, wants RIM to replace co-CEOs Mike Lazaridis and Jim Balsillie. It has also asked RIM to consider putting itself up for sale, either as a whole or in parts.
“Mr. Richardson does not believe that Jaguar’s interests are aligned with RIM’s long-term shareholders, and therefore instructed the company to contact Mr. Alboini and decline a meeting at this time,” RIM said in a statement.
The current co-CEOs have presided over a steady decline in the BlackBerry’s share of the smartphone market and have failed to keep pace with innovations by Apple and others, Alboini and other critics say. Balsillie and Lazaridis, who share the role of chairman, exert too much power over the board, they say.
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