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Expect	
  no	
  “seismic	
  changes”	
  
Newly	
  appointed	
  CEO	
  Thorsten	
  Heins	
  
January	
  24th,	
  2012	
  
	
  
-­‐200%	
  
-­‐150%	
  
-­‐100%	
  
-­‐50%	
  
0%	
  
50%	
  
2009	
   2010	
   2011	
   2012	
   2013	
   2014	
  
BlackBerry	
  Net	
  Income	
  
Growth	
  
0	
  
1,000	
  
2,000	
  
3,000	
  
4,000	
  
5,000	
  
6,000	
  
F1Q12	
   F2Q12	
   F3Q12	
   F4Q12	
   F1Q13	
   F2Q13	
   F3Q13	
   F4Q13	
   F1Q14	
  
BlackBerry	
  Revenue	
  (M)	
  
Heins	
  -­‐	
  CEO	
  
But	
  We	
  Did	
  Hope	
  For	
  A	
  Turnaround,	
  Not	
  A	
  Death	
  Spiral	
  
1Q14	
  +25%	
  
And	
  Expected	
  a	
  CEO	
  To	
  Lead,	
  Not	
  Masquerade	
  As	
  A	
  Cost	
  CuTng	
  COO	
  
42%	
  
22%	
  
5%	
  
-­‐33%	
  
FYE10	
   FYE11	
   FYE12	
   FYE13	
   2014	
  
BlackBerry	
  COGS	
  Growth	
  
CEO	
  -­‐	
  Heins	
  
0	
  
0.5	
  
1	
  
1.5	
  
2	
  
2.5	
  
3	
  
FYE09	
   FYE10	
   FYE11	
   FYE12	
   FYE13	
   FYE14	
  
Blackberry	
  Cash	
  &	
  Short	
  Term	
  
Investments	
  
CEO	
  -­‐	
  Heins	
  
…Who	
  Raised	
  Cash	
  For	
  A	
  PotenZal	
  Buyer	
  
…Who	
  Turned	
  Out	
  To	
  Be	
  Board	
  Member	
  Who	
  Resigned	
  In	
  August	
  2013	
  
-­‐60%	
  
-­‐40%	
  
-­‐20%	
  
0%	
  
20%	
  
40%	
  
60%	
  
80%	
  
100%	
  
FYE09	
   FYE10	
   FYE11	
   FYE12	
   FYE13	
   FYE14	
  
Hardware	
  Revenue	
  
Growth	
  
-­‐60%	
  
-­‐40%	
  
-­‐20%	
  
0%	
  
20%	
  
40%	
  
60%	
  
80%	
  
100%	
  
FYE09	
   FYE10	
   FYE11	
   FYE12	
   FYE13	
   FYE14	
  
Services	
  Revenue	
  
Growth	
  
-­‐60%	
  
-­‐40%	
  
-­‐20%	
  
0%	
  
20%	
  
40%	
  
60%	
  
80%	
  
100%	
  
FYE09	
   FYE10	
   FYE11	
   FYE12	
   FYE13	
   FYE14	
  
BlackBerry	
  Subscriber	
  
Growth	
  
F1Q14	
  
CEO	
  -­‐	
  Heins	
  
And	
  Got	
  Caught	
  Stuffing	
  The	
  Channel	
  With	
  Product	
  Customer’s	
  Didn’t	
  Want	
  
A	
  CEO	
  Who	
  Will	
  Get	
  Paid	
  An	
  Extra	
  $56Million	
  
	
  
….While	
  Nearly	
  10,000	
  Other	
  BlackBerry	
  Employees	
  Lost	
  Their	
  Jobs	
  

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BlackBerry: A CEO Who Never Showed Up

  • 1. Expect  no  “seismic  changes”   Newly  appointed  CEO  Thorsten  Heins   January  24th,  2012    
  • 2. -­‐200%   -­‐150%   -­‐100%   -­‐50%   0%   50%   2009   2010   2011   2012   2013   2014   BlackBerry  Net  Income   Growth   0   1,000   2,000   3,000   4,000   5,000   6,000   F1Q12   F2Q12   F3Q12   F4Q12   F1Q13   F2Q13   F3Q13   F4Q13   F1Q14   BlackBerry  Revenue  (M)   Heins  -­‐  CEO   But  We  Did  Hope  For  A  Turnaround,  Not  A  Death  Spiral  
  • 3. 1Q14  +25%   And  Expected  a  CEO  To  Lead,  Not  Masquerade  As  A  Cost  CuTng  COO   42%   22%   5%   -­‐33%   FYE10   FYE11   FYE12   FYE13   2014   BlackBerry  COGS  Growth   CEO  -­‐  Heins  
  • 4. 0   0.5   1   1.5   2   2.5   3   FYE09   FYE10   FYE11   FYE12   FYE13   FYE14   Blackberry  Cash  &  Short  Term   Investments   CEO  -­‐  Heins   …Who  Raised  Cash  For  A  PotenZal  Buyer   …Who  Turned  Out  To  Be  Board  Member  Who  Resigned  In  August  2013  
  • 5. -­‐60%   -­‐40%   -­‐20%   0%   20%   40%   60%   80%   100%   FYE09   FYE10   FYE11   FYE12   FYE13   FYE14   Hardware  Revenue   Growth   -­‐60%   -­‐40%   -­‐20%   0%   20%   40%   60%   80%   100%   FYE09   FYE10   FYE11   FYE12   FYE13   FYE14   Services  Revenue   Growth   -­‐60%   -­‐40%   -­‐20%   0%   20%   40%   60%   80%   100%   FYE09   FYE10   FYE11   FYE12   FYE13   FYE14   BlackBerry  Subscriber   Growth   F1Q14   CEO  -­‐  Heins   And  Got  Caught  Stuffing  The  Channel  With  Product  Customer’s  Didn’t  Want  
  • 6. A  CEO  Who  Will  Get  Paid  An  Extra  $56Million     ….While  Nearly  10,000  Other  BlackBerry  Employees  Lost  Their  Jobs