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%.
MKM PARTNERS analyst Michael Genovese said in a research note that he remained negative on RIM's fundamentals, warning that there may not be big changes at the company. Despite Lazaridis and Balsillie stepping down, Genovese does not see the appointment of Heins as leading to a potential acquisition. He has a neutral rating and a $15 price target on shares. Heins did speak about becoming more consumer friendly during Monday's conference call, explaining that RIM's recruiting a new Chief Marketing Officer to help reach customers. The new CEO also discussed the possibility of licensing out Blackberry 10, the company's newest operating system, which is expected to launch later this year. Shares reversed course in early Monday trading. They had been up as much as 4% in pre-market trading, but were off 6.7% to $15.87 by mid-morning. Interested in more on Research In Motion? See TheStreet Ratings' report card for this stock. Check out our new tech blog, Tech Trends. -- Written by Chris Ciaccia in New York >To follow the writer on Twitter, go to http://twitter.com/commodity_bull. >To submit a news tip, send an email to: firstname.lastname@example.org