Source: BlackBerry.
  • BlackBerry (TSX:BB) has appointed John J. Giamatteo as its new chief executive officer and board of directors member, effective immediately
  • Giamatteo has served as the president of the technology company’s cybersecurity business unit since October 2021 and has more than 30 years of experience with global technology companies
  • BlackBerry also announced that it will separate the IoT and cybersecurity businesses, and will operate as fully standalone divisions
  • BlackBerry stock last traded at C$5.59 per share

BlackBerry (TSX:BB) has appointed John J. Giamatteo as its new chief executive officer and board of directors member, effective immediately.

Giamatteo has served as the president of the technology company’s cybersecurity business unit since October 2021 and has more than 30 years of experience with global technology companies.

As president of BlackBerry’s cybersecurity business unit, he was behind several significant enhancements to the product portfolio, go-to-market strategy and organizational efficiency. Prior to BlackBerry, he was president and chief revenue officer at McAfee. Before that, he served as chief operating officer at AVG Technologies, a provider of internet and mobile security. He also held leadership positions with Solera, RealNetworks and Nortel Networks.

“I am honored and excited to lead the next phase of BlackBerry’s evolution as its CEO. BlackBerry’s IoT and Cybersecurity businesses have market-leading technology, exceptional teams and large market opportunities,” he said in a news release. “The board and I are fully aligned on the next steps needed to unlock the value within BlackBerry, and work on this effort will proceed at full speed. I look forward to working with the entire team to uphold our legacy of innovation and continue providing exceptional service to our customers as we deliver on our goals.”

“We are delighted to appoint John to the role of CEO for what will be a transformative period in BlackBerry’s history, as we work to fully separate our two core business units to drive enhanced shareholder value,” Mike Daniels, chairman of the compensation, nomination and governance committee of BlackBerry’s board, added. “His deep industry experience and outstanding track record of inspiring teams and delivering operational excellence means he is strongly positioned to drive this critical transformation of BlackBerry.”

Richard Lynch, who has served as interim chief executive officer since Nov. 4, 2023, will continue as board chairman. The company also announced it will separate the IoT and cybersecurity businesses, and that they will operate as fully standalone divisions. BlackBerry will no longer pursue a subsidiary Initial public offering (IPO) of the IoT business.

BlackBerry provides intelligent security software and services to enterprises and governments around the world. The company secures more than 500 million endpoints including more than 235 million vehicles.

BlackBerry stock last traded at C$5.59 per share and is up 8.12 per cent in past month.

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