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Prem Watsa Never Asked Thorsten Heins to Resign – Mike Lazaridis Wanted to "Go On His Own"

Thorsten Heins RIM

The Globe & Mail keeps on giving us more juicy details on the strategic review and takeover attempts at BlackBerry. We learned now that founder and Co-CEO Mike Lazaridis and founder Doug Fregin hired Goldman Sachs as advisors to put together a takeover deal with Cerberus Capital Management that was “Highly conditional” and rejected by the board. Watsa told G&M that “Mike is a good friend” but “Mike wanted to go at this on his own. We’d have been happy to work with Mike, but he wanted to do this on his own.”

Watsa also talked about now former CEO Thorsten Heins resignation that “Neither John Chen nor myself asked him to resign.” He went on to say that:

“Thorsten did a very good job given the hand that he was dealt, but resigned because you can’t have two people being in charge,” Mr. Watsa said in an interview. “He said to me, ‘It’s very appropriate for me to resign. I like John Chen, but I’m a CEO and there is one person in charge.’ ”

I highly recommend checking out the rest of the details over at The Globe & Mail. Lots of great details there! Its amazing to see how many ways this could have played out.

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  1. Oh come on – Watsa may try to couch it in whatever way that he wants but one thing is clear and that’s that TH was fired because a resignation wouldn’t have triggered his termination bonus and severance. At the very least – if strictly speaking he wasn’t ‘asked’ to leave – then TH had a good enough case for wrongful dismissal that he received his golden parachute. PW’s statements are misleading.

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