Balsillie out as RIM stumbles under $125M loss

WATERLOO – Beleaguered Research In Motion (RIM) shook up its executive ranks after reporting its first quarterly net loss in almost seven years. The Blackberry-maker said late Thursday that former co-CEO Jim Balsillie had resigned as a director on the company's board, and that David Yach, CTO of software, and Jim Rowan, global operations COO, were also leaving. RIM confirmed that it is seeking to hire a single COO with responsibilities to run the company's operations. That news followed financial results that saw RIM report a $125 million net loss for the fourth quarter ended March 3, 2012, down from...