Winnipeg Free Press - PRINT EDITION

Big bucks for BlackBerry boss?

  • Print

TORONTO -- BlackBerry chief executive Thorsten Heins stands to make as much as $55.6 million if the company is sold and he is ousted from the top job, according to securities filings.

Under the change-of-control provisions in his contract, Heins would receive $7.5 million in compensation for his salary and bonus, $72,000 in benefits and retirement savings and $48 million in equity awards, based on the company's share price at the end of its latest financial year.

BlackBerry announced this week it had launched a review of "strategic alternatives," a move that could potentially result in the sale of the company to a strategic buyer that could see it taken private.

The company's strategic review is being headed by Timothy Dattels, a BlackBerry director and a senior partner at TPG Capital, one of the world's largest private equity firms.

Fairfax Financial and its chief executive, Prem Watsa, which hold approximately 11 per cent of BlackBerry, are considered among possible buyers.

Watsa resigned from the BlackBerry board on Monday due to potential conflicts of interest.

If Heins were to be removed from his job at BlackBerry without a change of control, he would receive a package valued at $22 million, including $5.8 million in compensation for his salary and bonus, $72,000 in benefits and retirement savings and $16.1 million in equity awards.

-- The Canadian Press

Republished from the Winnipeg Free Press print edition August 17, 2013 B10

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Trucks power through flooded underpass at Main St and Higgins

View more like this

Photo Store Gallery

  • Susan and Gary Harrisonwalk their dog Emma on a peaceful foggy morning in Assiniboine Park – Standup photo– November 27, 2011   (JOE BRYKSA / WINNIPEG FREE PRESS)
  • A Canada goose flies towards the sun near the Perimeter Highway North and Main St Monday afternoon – See Day 10 for Bryksa’s 30 goose project - May 11, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)

View More Gallery Photos

Poll

Do high-profile endorsements for political candidates influence your voting decisions?

View Results

View Related Story

Ads by Google