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July 10, 2012, 10:21 a.m. EDT

RIM board kicks off meeting with support for execs

SAN FRANCISCO (MarketWatch) -- Research In Motion Ltd. kicked off its annual shareholders meeting on Tuesday morning with a statement from the company's board of directors reiterating support for its current management team. The statement said the board believes the current team -- led by CEO Thorsten Heins -- is "well positioned to lead the company forward." The statement also admitted that RIM's performance over the last year "has not met expectations," as the company's BlackBerry smartphone business has come under strong pressure from competition. RIM's board said it will be "unwavering in its pursuit of activities" to create shareholder value. RIM's shares were down about 1.7% to $7.54 as the meeting near the company's headquarters in Waterloo, Ontario, got underway.

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RIM defends turnaround plan to shareholders

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