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Update: BlackBerry ditches CEO and accepts $1 billion loan from Fairfax, others

2013-11-04 16:03:23| InfoWorld: Top News

BlackBerry will change its CEO and accept a $1 billion loan from a consortium involving shareholder Fairfax Financial Holdings as it struggles with inventory and strategy problems. The company has abandoned plans to sell itself CEO Thorsten Heins will resign when the deal is complete, with former Sybase CEO John S. Chen joining the company as chairman and interim CEO, BlackBerry announced Monday.

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