RIM rebound to take 3-5 years: investor

One of the newest board members at Research In Motion Ltd. isn’t expecting an overnight turnaround for the embattled Blackberry maker.

On Thursday, Fairfax Financial Holdings Ltd. chairman and founding chief executive Prem Watsa told investors at the annual meeting of his insurance holdings company that any comeback for Canada’s top technology company would take time.

“Three years, five years is how I’m looking at it, but there’s no guarantees,” Watsa said in a response to a question at the annual meeting of his company Fairfax Financial.

“It’s not easy to compete with Apple or Samsung,” Watsa said, noting that RIM has brought in strategic consultants to assist the firm’s new chief executive.

“All you can do as a member of the board is have the company focus on the long term.”

Fairfax invested in RIM’S depressed stock when Watsa joined the tech firm’s board in January when the Waterloo, Ont.-based technology giant ousted its co-chairman and co-chief executive tandem of Mike Lazaridis and Jim Balsillie, installing Thorsten Heins as the new chief executive and Barbara Stymiest as the new chairman of the board.