Former BlackBerry CEO Thorsten Heins Ousted as CEO at Israeli tech Company Powermat

ThorstenHeins

It is being reported in the Jerusalem Post that former BlackBerry CEO Thorsten Heins has been ousted as CEO at Israeli Tech firm Powermat. Mr Heins troubles at Powermat stemmed from friction between him and the company’s board that culimated in a lawsuit being filed. This lawsuit accused Heins and his leadership team of financially tanking the company by running it without an approved budget in a fiscally irresponsible manner.

Since former BlackBerry CEO Thorsten Heins arrival, Powermat’s shareholders have not warmed up to him or his leasdership team and have accused him of lacking strategic vision, overspending and failing to seal new deals for the company.

On Sunday morning, the sides filed a mediation case in the Tel Aviv District Court reflecting an agreement that Heins will leave the position, a CEO search committee will be set up, the board will restructure, and that investors, which include Goldman Sachs, will invest an addition $10 million into the company in the form of bridge loans.

What this will mean for Thorsten Heins future, only time will tell

Source: The Jerusalem Post

web99

Web99 enjoys tech and has tried smartphones on all the major platforms. Out of all devices he has tried, BlackBerry10 best fulfills his needs.

  • Observation Junkie

    Interesting news.

    “accused him of lacking strategic vision, overspending and failing to seal new deals for the company.”…

    Some of these quotes sound familiar….

    • web99

      Yes OJ, it is another case of deja vu. It’s amazing how history repeats itself.

      • Reverend Grim

        Maybe all those I have heard b¡+ching about JC and how Thor was better will STFU now! Like you say Web, history repeating!

      • Observation Junkie

        Yes, even in the city of miracles, nothing appears to have gone right for the German.

  • Anthony

    Does he get another golden parachute… locco_smiley_36

  • TRUENORTH

    Strike two! Nobody on base. The pitcher winds up . .. . . ..

  • BB Racer !!

    John Chen said when he came on board he was losing over $1B…..THOR was questioned initially when he was made CEO ……his biggest mistake was not launching a QWERTY Classic with the tool bar ….biggest mistake ….

  • SipoKapumba

    This guy almost bankrupted BlackBerry.

  • Robert

    Wasn’t Heins given $50M when he left BlackBerry? With his history…I wonder how much of that he has left locco_smiley_8

  • Anthony

    Thorsten and his crew took-on Apple, Google, Microsoft, Samsung, et al and came-up against epic media corruption.

    Everything the current BlackBerry has has roots in BlackBerry before Chen. BlackBerry was exciting under Thor.

    Chen’s BlackBerry stepped away from center stage and shifted hugely expensive software development to Android.

    We don’t know the whole story about Thor at Powermat. locco_smiley_20

  • ivantwilliams

    Hmm, as a CEO, being ‘removed’ or asked to ‘leave’, is never a good thing. But, TWICE.
    Anyway, yes, BlackBerry are probably seeing the fruits of some of the things that Thorsten, started, but…

    Chen has a difficult position. We can sit here and say he should do this, he should do that. But, one has to turn the company around, from a financial perspective. Does that mean, we, the consumers don’t get all the ‘things’ we want, yep, more than likely. Then again, if Chen gets BlackBerry in the black, versus the red, I’m sure shareholders, et al. will be happy…

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