BlackBerry has appointed Philip Brace to its board of directors. The appointment is effective immediately and he will also join the Compensation, Nomination and Governance Committee of the Board.
Philip Brace, a seasoned executive in the IoT and technology sectors, has held leadership roles in companies such as Sierra Wireless, Veritas Technologies, Seagate Technology, LSI Corporation, and Intel Corporation.
His recent tenure as President and CEO of Sierra Wireless saw significant financial growth for the company.
BlackBerry’s Board Chair, Dick Lynch, expressed confidence in Brace’s ability to contribute valuable insights, particularly in the IoT market, a key area for BlackBerry. CEO John J. Giamatteo highlighted Brace’s expertise as an asset during the company’s current restructuring into two standalone divisions.
In tandem with Brace’s appointment, long-time board member Prem Watsa will resign effective February 15, 2024.
Watsa’s departure coincides with the repayment of convertible debentures held by Fairfax Financial Holdings Limited affiliates. Watsa, who is also the Chairman and CEO of Fairfax Financial, has been associated with BlackBerry’s board since 2013, contributing to significant changes within the company.
Following these board changes, BlackBerry will have a total of 7 members on its board, with 6 being independent directors.
