Steve "Chon Jhens numbers guy and now former BB CFO" Rai is gone... no answers foote has replaced him. So the bedwetters arguing about their half baked complaints about costs are currently incorrect.
BlackBerry Announces Finance Leadership Changes
July 29, 2024
WATERLOO, ONTARIO – July 29, 2024 – BlackBerry Limited (NYSE: BB; TSX: BB) today announced a series of leadership changes designed to streamline its finance organization as it executes on its strategy to establish two distinct divisions (Cybersecurity and IoT).
Tim Foote has been appointed as the Company’s Chief Financial Officer, effective today. Foote will report to BlackBerry CEO, John J. Giamatteo.
Foote joined the Company following BlackBerry’s acquisition of Good Technology in 2015 and brings more than 20 years of experience across a number of senior finance leadership positions. While at BlackBerry, Foote’s roles have included managing the Company’s international finance operations, Vice President of Investor Relations and, most recently, CFO for the Cybersecurity division. Foote holds an MBA from Imperial College Business School, London and is a Chartered Accountant.
Foote will succeed Steve Rai, who has decided to pursue other opportunities outside of the Company. Giamatteo, and the rest of the BlackBerry Board, thank Steve for his contributions to the Company since 2014 and wish him well in his future endeavors. Rai will remain with BlackBerry until September in a consulting role in order to help facilitate a smooth transition.
“We are pleased to appoint Tim as our new CFO,” said Giamatteo. “Tim is a strong, respected and trusted leader within our finance organization, and he brings a wide range of experience from over two decades of senior finance roles in both public and private multinational companies. Tim’s deep knowledge of BlackBerry’s business, strong relationship with the investment community, and demonstrated leadership made him an ideal choice for the task ahead.”
“I am proud to be given the opportunity to lead the BlackBerry finance team at this pivotal time,” said Foote. “BlackBerry has made tremendous progress in establishing two standalone divisions and driving towards profitability, and I’m excited about partnering with the executive team to deliver greater shareholder value.”
Additional Leadership Changes
In addition, BlackBerry has appointed Jay Chai as the Company’s Chief Accounting Officer. Chai has been Vice President and Corporate Controller at BlackBerry since May 2019 and will leverage his deep expertise in financial reporting and operations for this new, expanded role and responsibilities.
Fraser Deziel has been promoted to the role of Corporate Controller. Deziel has been with BlackBerry since November 2009 and was most recently Senior Director of Financial Reporting and Treasury.
JJG has been Chief Executive Officer for all of 8 months, wash your stiff sheets, air em for 7 1/2 weeks. Until then you really cannot begin to assess JJG results. BlackBerry are slowly emerging from excessively optimistic, arrogant jaune chiens overspend on acquistitons with huge expenditures to encorporated products to feature the technologies while unable to generate new revenues due to Covid and complete melt down of global supply chains that continues to plague the global automakers and other significant businesses whose revenues are not military related.
End of September, week prior to Christmas, April Fools Day and the AGM June 2025 are the know dates that matter today... if headwinds persist, the company likely has significant imminent change... on the otherhand, if JJG is able to maraude some Crowdstrike modules and EVs improve it will not take much to show up on the daily tickers.
A note of interest Shorts continue to reduce the position that as end of yesterday sees but 7,731,268, should they drop below 1% of the issue there will only be 5M remaining... the day of the Long is near IF JJG is executing and by the looks of it the Pros believe BB is trending toward profitablity and revenue growth.
If and when the share price moves expect daily doubles, trifectas and a 10x in a very short period of time... BB will go from harlet to charismatic Charlotte in a matter of hours.