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BlackBerry says new CEO John Chen will stick around until business recovers

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john chen (disney)
john chen (disney)

BlackBerry once changed the definition of phones, and now it's doing the same for the word temporary. CEO John Chen, who took the post last November as "interim" CEO while the company actively hunted for a replacement, will now stay on for an undetermined amount of time. In a statement to The New York Times, a BlackBerry spokesperson said Chen's no longer "interim," and will continue in the role until BlackBerry is "back on solid financial footing." The company added it's put the search for Chen's replacement "on the backburner for now."

No longer "interim"

Bringing BlackBerry back to profitability is no small feat. The company racked up billions in losses last year, while shedding executives like CEO Thorsten Heins, who left in November, and was followed by other top executives. Attempts to take over the company have also been scrapped, including one from Mike Lazaridis, who co-founded the company and was its CEO, though more recently has been selling off millions of his shares in the company. For its part, BlackBerry brought Chen on as a fixer following his success at turning around Sybase from the brink of disaster in the early 2000s.