BlackBerry maker Research in Motion shuffled executives Monday, part of the fallout from a growing stock option mess.
RIM says it incorrectly recorded options as back as 2004 and will have to lower its earnings by $250 million as a result. The auditing committee that looked into the mess appears to carefully avoid the term "backdating," but that's essentially what we're talking about.
Jim Balsillie will step down as chairman but remain co-CEO, and Dennis Kavelman will move from chief financial officer to chief operating officer of administration and operations.
The leadership shuffle comes at an inopportune time, as some are questioning RIM's viability in an iPhone-dazed world.
RIM restating results, chairman resigns[AP]
