Remember that settlement RIM reached with the Ontario Securities Commission yesterday? Well, details of the arrangement have emerged, and Reuters is reporting that in addition to over $90 million CAD being repaid, the company's co-CEO will be stepping down from its executive board as part of the deal. Jim Balsillie will reportedly have to fork over $5 million CAD (~$4.1 million USD) and his position on the board for at least 12 months -- though we're not sure if he intends to return (or if he'll be welcomed back).
[Via BlackBerry Cool]Filed under: CellphonesRIM's co-CEO Balsillie stepping down from board as part of backdating settlement originally appeared on Engadget on Thu, 05 Feb 2009 18:51:00 EST. Please see our terms for use of feeds.Read | Permalink | Email this | Comments
