Mike Lazaridis and Jim Balsillie

Research In Motion (RIM) Co-CEOs Mike Lazaridis and Jim Balsillie have announced that they will step down from their positions on Monday morning in the midst of an executive reshuffling.

According to The Wall Street Journal, Thorsten Heins, one of the company’s former chief operating officers, will be stepping up into the CEO position on Monday morning; Lazaridis will continue in his role as the board’s vice chairman, while Balsillie will stay on as a board member.  Continuing with the massive shake ups, Barbara Stymiest is still expected to become the chairmen of the board in the near future.

All of this is apparently in reaction to the continually poor performance of the company’s stock price and growing rumors that the company is putting itself up for sale.

Mr. Heins is saying that his plans are to focus on continuity with what the other CEOs had laid out, but seeing as how the company has done as of late its debatable if that is really the wisest move.  There is every chance that RIM may be hopeful that this move will make it more attractive to potential buyers, but its doubtful that some simple reshuffling of executives will really change the fortunes of this staple of the smartphone industry.

We’ll have more for you as this story develops on Monday.

[via The Wall Street Journal]