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RIM stock up more than 6 per cent on reports of possible board shakeup

01/03/2012 02:04 EST | Updated 03/04/2012 05:12 EST
TORONTO - Stock in beleaguered BlackBerry maker Research in Motion (TSX:RIM) is more than six per cent amid reports of a possible shakeup of the company's board.

News reports say co-founders Mike Lazaridis and Jim Balsillie are considering relinquishing their titles as co-chairmen of the RIM board.

However, the company has not commented directly on reports that Barbara Stymiest, an independent RIM board member since 2007, is in line to take over the post.

When asked, the Waterloo, Ont.,-based concern issued an email response saying only that a committee of independent directors studying RIM's governance structure is due to report its findings at the end of the month.

RIM says the committee is on track to meet the deadline and the board will publicly respond within 30 days of that.

The company, which has been losing market share to other smartphone makers like Apple and those using the Android operating system, has seen its shares take a pounding over most of the last year.

But RIM stock was up 85 cents or almost six per cent at $15.65 in late-morning trading today.

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