Until BlackBerry is on a solid financial footing, John Chen formally interim CEO appears to be settling fully into the role for long term.
This follows Fairfax’s $250 million injection into the company in the form of a debt purchase. The firm’s largest shareholder is showing increased confidence in the mobile company’s future after having led a group of investors that injected $1 billion into the company last fall.
Fairfax president Paul Rivett endorsed CEO John Chen by pointing out the company has increased potential under the new team assembled by Mr.Chen.
The current Chief Executive has eased out several directors and is now shaking up the firm’s operations in a quest to up their notch meanwhile; BlackBerry has announced a handset deal with Foxconn.
John Chen’s stay is a positive indication to the investors on a clear future with improved company prospects.