BlackBerry Promotes John Giamatteo To CEO; To Pursue Separation Of IoT And Cybersecurity Business

(RTTNews) - Intelligent security software firm BlackBerry Ltd. (BB, BB,TO) announced Monday the appointment of John Giamatteo as its new Chief Executive Officer and as a member of its Board of Directors, effective immediately. Giamatteo has served as the President of BlackBerry's Cybersecurity business unit since October 2021.

Giamatteo has over 30 years of experience with global technology companies. Prior to BlackBerry, he was President and Chief Revenue Officer at McAfee. Before that, he served as Chief Operating Officer at AVG Technologies. He also held leadership positions with Solera, RealNetworks and Nortel Networks.

Richard Lynch, who has served as interim Chief Executive Officer since November 4, 2023, will continue as Board Chair.

The Company also announced that it will separate the IoT and Cybersecurity businesses, and that they will operate as fully standalone divisions. BlackBerry will no longer pursue a subsidiary IPO of the IoT business.

To assist in the separation and right-sizing process, BlackBerry is in the final stages of selecting a consulting firm to bring expertise and additional resources for an independent, ground-up assessment.