Research In Motion's decision to name Thorsten Heins as its new CEO has been panned by many experts and investors who have raised doubts over the new leader's ability to solve the firm's major problems when it has fallen far behind Apple and Google.
Heins, who joined Blackberry maker RIM five years ago, recently replaced the Blackberry maker's co-chief executives and co-chairmen, Jim Balsillie and Mike Lazaridis, in the biggest shakeup in the firm's history.
Before Laziridis and Balsillie resigned, Heins was one of their trusted deputies. He had previously worked for German cellphone maker Siemens.
According to The Globe and Mail, analysts have raised fears that by promoting an insider, RIM may not have done enough to shake up the firm.
"RIM still has inferior products and is losing market share remarkably fast. Time is running thin," Kris Thompson, an analyst at National Bank Financial, said.
"Thorsten needs to have some impressive magic tricks. Tricks that encompass change management, operating cost control and timely product innovation," he added.
Analyst Stuart Jeffrey with Nomura Securities in New York said that the chief executive officer should be someone who not only understands how consumers interact with their phones, but can also can build a thriving ecosystem of applications
"It kind of feels that the time has passed for hardware specialists to be in charge of these companies," he said.
According to the report, the sudden shake up in the firm follows a year of decline in which RIM lost three-quarters of its market value, botched the launch of its PlayBook tablet and watched rivals eat into BlackBerry's market share.
RIM shares fell more than nine per cent in Toronto, their largest one-day decline this month, in heavy trading. (ANI)