Earlier today, BlackBerry announced they have created a ‘special committee’ of the board of directors to weigh their strategic options. What was a bit intriguing was the inclusion of Prem Watsa’s resignation from the board, “due to potential conflicts that may arise during the process.”
Watsa is the Chairman and CEO of Fairfax Financial, which is heavily invested in BlackBerry. In the announcement, Watsa stated his company “has no current intention of selling its shares.”
What conflict of interest might there be that would cause Watsa to step down? Perhaps, Fairfax Financial might be partnering with the Canada Pension Plan Investment Board to aid in the privatization of BlackBerry.
It’s certainly interesting times for the smartphone maker. What do you make of this news?