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Jim Balsillie resigns as Director of RIM Board

Image Credit: TekTok.ca

The Globe and Mail has broken the news that after reporting extremely poor Q4 2011 results, RIM co-founder Jim Balsillie has resigned as director of the board, which means he is leaving the company.

Balsillie and fellow co-founder Mike Lazaridis resigned as co-CEO’s of the company back in January, though they both remained at RIM; Lazaridis as co-chair of the board, and Balsillie as director.

RIM reported extremely poor Q4 earnings today, with BlackBerry sales declining 21% over the previous quarter, only shipping 11.1 million handsets. The company also missed what were already low earnings projections, posting a loss of $125 million on $4.2 billion in revenue – a 19% decrease from Q3.

In a quote published by All Things D, Balsillie said, “As I complete my retirement from RIM, I’m grateful for this remarkable experience and for the opportunity to have worked with outstanding professionals who helped turn a Canadian idea into a global success.”

Software CTO David Yach and Jim Rowan, COO, Global Operations are also leaving the company.

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