
BlackBerry released a statement this morning announcing a plan led by Fairfax Financial Holdings to raise US$1 billion from a group of institutional investors, abandoning efforts to take itself private. As part of the deal, CEO Thorsten Heins will step down, to be replaced by former Sybase chief executive John S. Chen, who will serve as executive chairman of the board and interim CEO until BlackBerry completes a search for Heins’ permanent successor.