Blackberry confirms senior management changes

<p>Senior management changes have been confirmed by Blackberry.</p>

Blackberry has announced a new raft of changes to its senior management team as it looks to turn around its fading fortunes.

The smartphone manufacturer has lost ground on rivals such as Apple and Samsung in recent years, while Microsoft and Google have also entered the crowded market.

Blackberry announced that its chief marketing officer and chief operating officer are standing down, with no replacements having been announced yet.

It was also revealed that Brian Bidulka, the chief financial officer at the firm, is to be replaced by James Yersh. Mr Yersh was previously the controller and head of compliance at the company.

John Chen, who was recently named the interim chief executive officer, said: "I look forward to working more directly with the talented teams of engineers, and the sales and marketing teams around the world to facilitate the Blackberry turnaround and to drive innovation."

Blackberry's share price is up in after-hours trading on the back of the news, but the company still lags behind rivals such as Apple and Google.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.