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Mr. Lazaridis will also chair the board’s new “innovation committee.” According to a statement from RIM, Mr. Lazaridis will offer strategic counsel to Mr. Heins to help ease the transition.

“There comes a time in the growth of every successful company when the founders recognize the need to pass the baton to new leadership,” Mr. Lazaridis said in a statement.

“Jim and I went to the Board and told them that we thought that time was now. With BlackBerry 7 now out, PlayBook 2.0 shipping in February and BlackBerry 10 expected to ship later this year, the company is entering a new phase, and we felt it was time for a new leader to take it through that phase and beyond. Jim, the Board and I all agreed that leader should be Thorsten Heins.”

Mr. Lazaridis said he is so confident in Mr. Heins’ ability to lead the company that he plans to purchase an additional $50-million worth of RIM shares on the open market.

“Thorsten has demonstrated throughout his tenure at RIM that he has the right mix of leadership, relevant industry experience and skills to take the company forward,” Mr. Lazaridis said.

Mr. Balsillie said he agreed that the time was right for a new leader to take control at RIM.

“I agree this is the right time to pass the baton to new leadership, and I have complete confidence in Thorsten, the management team and the company,” he said. “I remain a significant shareholder and a Director and, of course, they will have my full support.”

Shares of RIM fell 75% in 2011 as the company was beset by corporate setbacks, public relations gaffes and the largest round of layoffs in its history. Even the December announcement that Messrs. Lazaridis and Balsillie would be reducing their annual salary to $1 as a sign of good faith was met with criticism from analysts.