With BlackBerry's latest upheaval, the troubled company is again facing pressure to ditch its smartphones.
In a stunning turn of events, BlackBerry announced Monday that a tentative deal to sell itself to a Canadian financial services holding company for $4.7 billion had collapsed, that it was no longer for sale and that Chief Executive Thorsten Heins was being replaced.
Shares of BlackBerry plummeted, closing down $1.27, or 16.4%, to $6.50. Its stock has fallen 45% this year.
John S. Chen, former chairman and chief executive of business software company Sybase Inc., will serve as interim chief executive while BlackBerry searches for a new CEO.