BlackBerry to Separate IoT, Cybersecurity Into Standalone Units, Taps Giamatteo as CEO>
Market Watch – Adriano Marchese
BlackBerry is restructuring its IoT and cybersecurity departments into two distinct divisions, backing off from an initial public offering for its IoT business—a plan previously considered under a strategy review known as Project Imperium.
This restructuring aims to streamline operations, allowing each unit to focus on its market, make swift decisions, and run independently and profitably.
To facilitate this divisional separation and refinement, BlackBerry is about to hire a consulting firm.
These changes reflect BlackBerry’s efforts to boost shareholder value by creating more specialized, efficient teams.
John Giamatteo has been appointed to lead BlackBerry, succeeding former CEO John Chen who stepped down at October’s end after finalizing Project Imperium.
Giamatteo has over three decades of experience in the tech sphere, recently serving as the president of BlackBerry’s cybersecurity business and having held key roles at McAfee and AVG Technologies.
Richard Lynch, BlackBerry’s Board Chair, acted as interim CEO in the transition period before Giamatteo’s installment.
Link: https://www.marketwatch.com/story/blackberry-to-separate-iot-cybersecurity-into-standalone-units-taps-giamatteo-as-ceo-0b5d3ef7