RIM's largest investor says he'll stay invested

The largest investor in RIM says he'll remain invested despite founder's exit

Associated Press

TORONTO (AP) -- The largest investor in Research In Motion says he will stick with the BlackBerry company despite founder Mike Lazaridis announcement that he will leave the company.

Prem Watsa, a board member who owns 10 percent of the company, first became interested in RIM because of his friendship with Lazaridis.

The 52-year-old Lazaridis announced last month plans to leave RIM on May 1. He stepped down as co-chief executive in January 2012, but stayed on as vice chairman and a board director.

Watsa said Thursday at his annual meeting for Fairfax Financial Holdings that CEO Thorsten Heins has done a great job since taking over last year and expects the company will do well over time.

Nonetheless, RIM shares were down more than 7 percent at $13.62 in afternoon trading in New York.

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