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WATERLOO, ONTARIO - BlackBerry Limited (NYSE:BB)(TSX:BB), a technology company with a market capitalization of $2.26 billion and currently trading at $3.81, has appointed Barry Mainz, the current Chief Executive Officer of Forescout Technologies, to its Board of Directors, the company announced Wednesday. According to InvestingPro data, BlackBerry has shown strong momentum with a 64% return over the past year.
Mainz brings 30 years of technology industry experience to BlackBerry’s board, having previously served as President of Wind River Systems, Chief Operating Officer of Malwarebytes, and CEO of MobileIron. His background spans executive leadership, global sales, marketing, product-led growth, and product development. The appointment comes as BlackBerry maintains a strong financial position, with InvestingPro analysis showing liquid assets exceeding short-term obligations and a healthy current ratio of 2.1.
"Barry brings to BlackBerry a unique combination of relevant strategic, operating and go-to-market experience from across the security software industry," said Dick Lynch, BlackBerry’s Board Chair, according to the company’s statement.
With Mainz’s appointment, BlackBerry has expanded its board to eight members, seven of whom are independent directors.
The new director has also held leadership roles at Mercury Interactive and Sun Microsystems, and has served as an Operating Partner at Crosspoint Capital. Mainz holds a Bachelor of Arts degree in Communications from San Francisco State University.
BlackBerry, based in Waterloo, Ontario, provides intelligent software and services to enterprises and governments, with particular focus on secure communications and foundational software for automakers and industrial companies. The company generates annual revenue of $533.2 million and has maintained profitability over the last twelve months. For detailed insights and comprehensive analysis, investors can access BlackBerry’s full Pro Research Report, available exclusively on InvestingPro, along with 11 additional ProTips and extensive financial metrics.
The information in this article is based on a press release statement from BlackBerry Limited.
In other recent news, BlackBerry Limited reported quarterly revenue of $121.7 million, surpassing the consensus estimate of $112.3 million, despite a 1% decline year-over-year. The company’s adjusted EBITDA was $16.4 million, significantly above the expected $4.8 million, aided by $4.5 million in government grants. Raymond James reiterated its Market Perform rating on BlackBerry, reflecting mixed results. Meanwhile, BlackBerry held its Annual and Special Meeting of Shareholders, where all seven director nominees were elected with strong approval ratings. Directors Lisa Bahash and Lori O’Neill received the highest support, both surpassing 98% approval. Additionally, QNX, a division of BlackBerry, partnered with Vector to develop a software platform for vehicles, aiming to simplify automotive software integration. In other developments, Medtronic announced the appointment of Chad Spooner as CFO of its diabetes business, MiniMed, which is preparing for a spinoff. Spooner brings over 25 years of financial leadership experience, most recently serving as CFO at BIC.
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