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RIM Shares Take Hit Following Resignation of Global Sales Chief

by Todd Haselton | May 24, 2012May 24, 2012 9:00 am PST

RIM Sign

RIM’s downward spiral doesn’t seem to be slowing any time soon. The company announced on Wednesday that its global sales chief Patrick Spence has resigned. Spence spent 14 years with Research In Motion. This is serious business, especially as RIM tries to build its market share in EMEA and emerging markets. Spence was responsible for building growth in the Middle East, Reuters said.

“Spence was a Balsillie protégé so his departure isn’t a surprise altogether,” IDC analyst Kevin Restivo told Reuters. “But his departure is still a punch in the stomach to RIM faithful as he helped the company rise to prominence in key markets such as the UK and the Gulf states.” RIM’s stock is already reflecting Spence’s departure — it was down more than 2.3% at the time of publication.

A replacement for Spence, who was considered a Balsillie protege, has not yet been announced.

[via Reuters]

Todd Haselton

Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...