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END OF AN ERA: Blackberry bosses set to resign

BLACKBERRY MAKERS Research In Motion's [RIM] co-chief executives, Jim Balsillie and Mike Lazaridis are set to resign this year, it has been reported.

RIM said the pair, who founded the company two decades ago, would be replaced by the company's chief operating officer, Thorsten Heins.

In a statement, Mr Lazaridis said: "There comes a time in the growth of every successful company when the founders recognise the need to pass the baton to new leadership."

He added: "Jim and I went to the board and told them that we thought that time was now."

The news comes after Blackberry suffered what has been reported as the one of the worst service blackouts in its history last year, causing the telephone giant to lose billions in market value shares.

Mr Balsillie, who is expected to remain a member of the board of RIM told Ananova: "I agree this is the right time to pass the baton to new leadership."

He added: "I have complete confidence in Thorsten, the management team and the company."