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Heins, 54, said Lazaridis and Balsillie took RIM in the right direction and said he's committed to the new software. "We are more confident than ever that was the right path. It is Mike and Jim's continued unwillingness to sacrifice long-term value for short-term gain which has made RIM the great company that it is today. I share that philosophy and am very excited about the company's future," Heins said. Barbara Stymiest, a former chief operating officer of the Royal Bank of Canada who has been a member of RIM's board since 2007, has named chair of the board of directors. RIM also announced that Prem Watsa, the chief executive of Fairfax Financial Holdings, is a new board member. Watsa has become a significant shareholder. Lazaridis said he was so confident in the future direction of the company that he intends to purchase an additional $50 million of the company's shares on the open market. RIM was worth more than $70 billion a few years ago but now has a market value of $8.9 billion. The company still has 75 million active subscribers, but many analysts believe RIM will lose market share internationally as it has in the U.S. Market researcher NPD Group said RIM's market share of smartphones in the U.S. declined from 44 percent in 2009 to 10 percent in 2011. Balsillie acknowledged in December that the last few quarters have been among the most challenging times in the company's history.
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