RIM Gave Its Former Co-CEOs A Combined $12 Million In Payouts

jim balsille rim ceo

Photo: Bloomberg

It sure does pay well to manage a company’s decline.After stepping down earlier this year, RIM’s former co-CEOs Mike Lazaridis and Jim Balsillie were given a combined payout from the company of about $12 million, AllThingsD reports.

SEC filings show that Balsillie received a payout of $7.93 million for this current fiscal year, including a nice severance package worth nearly $5 million. Meanwhile, Lazaridis, who remains on RIM’s board, received a payout of $3.96 million.

The two men were certainly responsible for establishing RIM as a powerhouse in the smartphone industry, but they were also in charge while the company began a long and steady decline in recent years.

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