BlackBerry's 'C' suite empties out

The struggling mobile company announces the departure of 3 top execs.

By Motley Fool Investor Beat Nov 25, 2013 1:31PM
BlackBerry's (BBRY) seemingly endless saga continues. The beleaguered smartphone maker announced Monday morning that the chief operating officer and chief marketing officer are both departing, while the chief financial officer will has been replaced, though will finish the rest of the fiscal year as an advisor.

BlackBerry's new interim CEO, John Chen, is credited with the management shakeup. Both the CMO and COO had been at the company for just a short while, brought aboard by Chen's predecessor, Thorsten Heins. According to The New York Times, "the company [will] no longer have chief operating and chief marketing executives."
Motley Fool analyst Jason Moser thinks shake-ups can be an encouraging sign for investors, but in this case, the odds are against BlackBerry. As he says, "The turnarounds very rarely actually do turnaround." The new BlackBerry Q10 is displayed for a photograph in San Francisco, Calif. on Tuesday, April 23, 2013 (© David Paul Morris/Bloomberg via Getty Images)

Ultimately, Jason doesn't see enough reward to take on the risks of investing in BlackBerry today.

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