Research In Motion's CEOs Mike Lazaridis and Jim Balsillie Step Down

Ontario Canada- Research In Motion's Mike Lazaridis and Jim Balsillie have stepped down from Research In Motion (NASDAQ:RIMM) and resigned as co-CEOs as reported by Reuters. It appears Thorsten Heins an engineer will take over Research In Motion's top spot. This will likely be treated as very good news for the stock after months of investor confidence falling as fast as the share price.

I am currently long Research In Motion with a price target of $24.50, but will likely still hedge with a covered call this week after my last covered call option with Research In Motion expired Friday.