BlackBerry CEO steps down

After the takeover bid by Fairfax Holdings fell apart, BlackBerry’s stocks plunged and CEO Thorsten Heins announced his intentions to step down. BlackBerry’s stock has tumbled 45 percent this year, as the company’s smartphones continue to lose ground to Apple Inc. and Samsung Electronics Co. Former Sybase Inc. chief John Chen becomes executive chairman, putting him in charge of the company’s strategy.

Read the Bloomberg news report here.