Research in Motion – BlackBerry: Mike Lazaridis and Jim Balsillie (Co-CEOs & Co-Founders)
Why this is a big quit:
Jim Balsillie and Mike Lazaridis founded the BlackBerry builders and were the giants in the smartphone world in 2007. Five years later, they quit juicing. Even though Balsillie and Lazaridis left because of poor performance and BlackBerry’s increasing loss of market share, Balsillie and Lazaridis symbolized the innovators of the smartphone era and represent the backbone of Research in Motion.
Why it’s not as big as our Top 10:
Lazaridis and Balsillie’s overconfidence and underestimation (if not disregard) of competition was one of the major reasons that contributed to the chaos that Research in Motion is facing right now. Their departure might not mean a loss, but a new future direction and opportunity for the company.
Ed Note: The Top 10 Biggest Quits focuses on U.S based companies, Canadian-based Research in Motion is eligible for “Honorable Mention”.