profile
Mike Lazaridis of RIM
CBC News
Posted: Jan 23, 2012 8:45 AM ET
Last Updated: Jan 23, 2012 12:27 PM ET
Mike Lazaridis, shown here in October 2011, founded BlackBerry maker Research in Motion in 1984. He and Jim Balsillie stepped down as co-CEOs of RIM on Jan. 22. (Justin Sullivan/Getty)
Mike Lazaridis was at the helm of Research in Motion Ltd. for two decades, along with Jim Balsillie, before the two announced on Jan. 22 that they are leaving their top jobs at the Waterloo, Ont.-based company.
The co-chief executive officers of RIM developed the iconic BlackBerry and began selling the device in 1999. It was the smartphone of choice for business employees for almost a decade, until Apple and other competitors knocked RIM out of top spot in the corporate arena.
Here are some highlights in the life and career of Lazaridis:
- Date of birth: The 50-year-old Greek-Canadian businessman was born in Istanbul on March 14, 1961. He was five when his family moved to Canada.
- Education: He studied electrical engineering and computer science at the University of Waterloo, but dropped out in 1984, just two months before graduation, to set up RIM. He received an honorary engineering doctorate from the University of Waterloo in 2003.
- Honours: In 2006, Lazaridis was made an Officer of the Order of Canada and a member of the Order of Ontario.
- Charity: Lazaridis has donated $170 million to the Perimeter Institute for Theoretical Physics in Waterloo, which focuses on cutting-edge research in foundational physics, as well as nearly $100 million to the Institute for Quantum Computing, also in Waterloo, to advance research in quantum information.
- Compensation: His basic annual salary was about $1.17 million in 2011. In March 2011, he was reported to be worth $1.9-billion, slightly ahead of Balsillie at $1.8-billion. Some reports say they're still billionaires, while others say they're each worth roughly $800 million each because of their charitable donations and plummeting RIM share prices. In December 2011, Lazaridis and Balsillie both asked to have their salaries changed to $1 per year, a gesture many observers saw as an acknowledgement of the financial issues facing RIM.
- Corporate misfire: In September 2010, Lazaridis announced RIM's new tablet, the PlayBook. When it was rolled out in the spring of 2011, critics complained about the fact that it was not equipped with RIM's trademark email service, and the company's fortunes began to sag.
- Quote about the 2011 BlackBerry outage: "Since launching BlackBerry in 1999, it's been my goal to provide reliable real-time communications around the world. We did not deliver on that goal this week, not even close," he said in an online video posted Oct. 13, after service outages occurred in parts of Europe, the Mideast, Africa, North and South America. "You expect better from us, and I expect better from us."
- Quote about his departure: "There comes a time in the growth of every successful company when it’s time for the leaders to pass the baton,” Lazaridis said, according to Reuters. “Jim and I went to the board and we told them we think the time is now.”
Share Tools
Big Box Advertisement
Top News Headlines
- Remains found on murder suspect Millard's Ontario farm
- Police searching the farm that belonged to Dellen Millard, the 27-year-old suspect charged with first-degree murder in the death of Ancaster, Ont., man Tim Bosma, have found more remains on the property. more »
- Can the Senate fire a senator?
- An expert on parliamentary rules says the Senate has the power to turf a senator from the chamber, as long as a majority approves the expulsion, and as long as there is cause. more »
- Harper chief of staff resigns amid Senate expense scandal
- Nigel Wright has resigned as Prime Minister Stephen Harper's chief of staff, following revelations he wrote a $90,000 cheque to repay living expenses claimed by Senator Mike Duffy. more »
- Jeep driver apologizes after stunt kills Edmonton woman
- A man claiming to be the driver of a Jeep that struck and killed a spectator at a charity event in Edmonton says he is sorry for what happened. more »
Must Watch
Latest Business Headlines
- 1 year later, Facebook stock remains below IPO price
- A year after Facebook's high profile IPO, investors are still skeptical about its prospects and the stock price is wallowing. more »
- IRS's integrity at stake in scandal over screening of conservative groups
- Unloved in the best of times, the Internal Revenue Service will have to scramble to convince U.S. lawmakers and the public that its intentions were pure, not partisan, when it subjected groups affiliated with the Tea Party movement and other conservative causes to special scrutiny. more »
- GM shares close above IPO price for 1st time in 2 years
- Shares of General Motors reached an important milestone on Friday, closing above their initial public offering price of $33 US for the first time in more than two years. The day wasn't bad for GM's rivals either, with Ford shares closing above $15 for the first time since May 2011 and Toyota, Honda and Nissan all hitting 52-week intraday highs. more »
- AECL to cost $236M more than expected this year
- A new report from the parliamentary budget officer shows Atomic Energy of Canada Ltd. continues to be a drain on the public purse and will cost an additional $236 million this year. more »
Lang & O'Leary Exchange
Markets
TSX COMPOSITE
May 20, 2013 12:00 AM ET
May 20, 2013 12:00 AM ET
May 20, 2013 12:00 AM ET
May 20, 2013 12:00 AM ET
May 20, 2013 12:00 AM ET
| Index | Last Trade | Change |
|---|---|---|
| TSX COMPOSITE | 12613.05 | 105.45 |
| DOW | 15354.40 | 121.18 |
| NASDAQ | 3498.97 | 33.73 |
| SP 500 | 1667.47 | 17.00 |
| TSX-VENTURE | 934.68 | 1.82 |
The data on this site is informational only and may be delayed; it is not intended as trading or investment advice and you should not rely on it as such.
- Remains found on murder suspect Millard's Ontario farm
- Petition looks to rename Victoria Day
- Vancouver man attacked, killed in Costa Rica
- Jeep driver apologizes after stunt kills Edmonton woman
- Rob Ford should resign if allegations true, councillors say
- Missing Toronto woman's parents unfazed by Millard link
- Harper chief of staff resigns amid Senate expense scandal
- Saudi coronavirus work stymied at Canadian lab
- Central Newfoundland digs out from freak snowfall

