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BlackBerry ditches CEO and accepts $1 billion loan from Fairfax, others

2013-11-04 16:03:23| InfoWorld: Top News

BlackBerry will change its CEO and accept a $1 billion loan from a consortium involving shareholder Fairfax Financial Holdings as it struggles with inventory and strategy problems. The company has abandoned plans to sell itself, after months of shopping itself without getting a buyer. CEO Thorsten Heins will resign when the deal is complete, with former Sybase CEO John S. Chen joining the company as chairman and interim CEO, BlackBerry announced today.

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