
BlackBerry has abandoned its plan to sell the company and said it's receiving an investment of $1 billion from majority shareholder Fairfax Financial, the companies announced today.
The Canadian smartphone company also said that Thorsten Heins is stepping down as chief executive officer. John S. Chen, former CEO of Sybase and Siemens, will serve as interim CEO, said the company. He was also appointed executive chair of BlackBerry's board of directors.
BlackBerry's stock plunged 18% in premarket trading. Ref. CNN