Research in Motion CEOs announce resignation

The founders and CEOs of Canadian telecommunications company Reseath in Motion, Jim Balsillie and Mike Lazaridis, announced Sunday that they were leaving their posts.

RIM has been struggling in recent months and has been the subject of persistent takeover speculation.

"In every successful company that's developed by founders," Lazaridis said "there comes a time when it enters a new phase of growth and it's time for the founders to pass the baton to new management."

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