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| JOHN CHEN |
Ailing Canadian smartphone maker, Blackberry, has revealed that its current
boss, Thorsten Heins, will be replaced by John Chen to launch another try
at the smartphone business which has been abysmal for the company in recent
times. Blackberry has also cancelled the plans to take it private by Fairfax
Financial Holdings.
Fairfax Financial Holdings which was unable to raise the required $4.7
billion required to purchase the company, instead Blackberry will now raise
about $1 billion from its largest shareholder and other institutional
investors.
Analysts have predicted that Blackberry’s smartphone business may not be
feasible again in the nearest future and it may have to look to its other
services for a resurgence of the falling company.
However, the new man to take over the reins at Blackberry, John Chen, [i. John S. Chen is the interim CEO of BlackBerry Ltd.
Previously, he served as the chief executive officer and president of Sybase, an
independent software vendor specializing in data management, analytics, and
mobility technology.] has revealed that shelving the smartphone
business is not one of his plans for Blackberry.
John Chen was chosen for his experience in situations like these after he
led the revival of Sybase in the 1990s.
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