Moments ago BlackBerry announced it was no longer selling the company and appointed John S Chen as the executive chair of the board and interim-CEO of the company. Chen is the former CEO and chairman of Sybase, which was acquired by SAP in 2010. He was responsible for Sybase’s turnaround, leading the company’s market cap from $362 million to $5.8 billion on 2010. Also Read - Onward Mobility is dead and so is Blackberry’s 5G phoneAlso Read - BlackBerry to sell $600 million worth of patents to US-based company: Here's why
Chen retired from SAP in November last year and became a senior advisor with private investment firm Silver Lake. Prior to his 14 year stint with Sybase, Chen served as president of the Open Enterprise Computing Division of Siemens Nixdorf, and COO and president of Pyramid Technology Corporation. Also Read - In the wake of BlackBerry: How one of the biggest smartphone maker in history fell from grace
Chen was born on July 1, 1955 and he is a director at Wells Fargo & Company as well as Walt Disney Company. He certainly brings the expertise and knowledge that BlackBerry requires but it remains to be seen whether he and the board are still confident of a turn around or will look at spinning off the company’s multiple divisions and selling them off individually.