RIM shareholders call for company sale

A Research In Motion shareholder has written a letter to the company’s board explaining the business needs to start innovating or look at other solutions, such as selling the company.

Jaguar Financial Corp has requested RIM establish a committee of independent directors in order to decide what the company should do.

Chief executive Vic Albioni told Bloomberg that his letter also has the support of several other shareholders. He has stated that RIM needs to begin innovating in order to grow.

“You cannot put all your eggs in one basket,” he said. “The board should be saying, ‘What if these products don’t pan out?’ You don’t want RIM to turn into another Nortel.”