BlackBerry has been struggling for the past few years after losing market share to Apple and Android device-makers. Thorsten Heins, who has been running the Canadian company for one-and-a-half year, stands to make $55.6 million in salary, incentives and equity awards if ousted in a company sale, according to a recent proxy filing. BlackBerry announced this week that it's conducting a strategic review of its business options, including a joint venture, partnership, a sale of assets, or an outright sale of the company itself.
What Else You Need To Know
- Heins succeeded BlackBerry company founders Jim Balsillie and Mike Lazaridis as president and CEO of BlackBerry in January 2012.
- BlackBerry has tapped advisors from JP Morgan Securities, Skadden, Arps, Slate, Meagher & Flom LLP and Torys LLP and has formed a special committee to explore alternatives.
Other sources
It's interesting to see how the market is pushing towards a sale now that BlackBerry has said it will entertain offers instead of just looking into it. In truth though it does not seem like much has changed.- Ronen Halevy, Berry Review
- Other
- BlackBerry Considers Putting itself up for Sale
- Business Insider SAI
- BlackBerry CEO Gets A $56 Million 'Double Trigger' Payoff If He Sells The Company (BBRY)
- Mobile Syrup
- $85 million: This is the amount BlackBerry’s exec team would earn if the company is sold and they’re all terminated
- Fierce Wireless
- BlackBerry CEO Heins could make $55.6M if ousted in company sale
- BGR
- BlackBerry CEO in line for $55 million payday if company is sold
- Berry Review
- BlackBerry CEO Thorsten Heins Would Make $55.6 Million on Sale
- Other
- BlackBerry CEO Will Cash in if Company Is Sold
- N4BB
- BlackBerry Could Sell for $10 Billion Due to Patent Portfolio
- N4BB
- BlackBerry Making a Comeback in the United States?