RIM Investors Vote No on New CEO (Update 1)
Updated from 10:36 a.m. EST to provide additional analyst comments in eighth paragraph, information about Leon Cooperman's stake in third paragraph, and latest share price.
NEW YORK (TheStreet) - Research In Motion (RIMM) has finally reshuffled its management team, announcing Thorsten Heins as its new CEO. Investors, however, are less than impressed, sending shares nearly 7% lower this afternoon.
Shares of RIM have surrendered 74.2% of their value over the past year, according to Google Finance, as the handset maker loses market share and relevance in the smartphone market to Apple (AAPL) and Google (GOOG). Apple's stock, in contrast, has gained 28.6% over the same time period, while Google's has dipped just 4.2%.
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