BlackBerry appoints veteran insider Tim Foote as new CFO amid strategic shift

BlackBerry Limited has made a strategic move by appointing Tim Foote as its new Chief Financial Officer (CFO), effective immediately. This leadership change is part of BlackBerry's broader strategy to separate its Internet of Things (IoT) and cybersecurity businesses, aiming to drive greater profitability and focus.

Tim Foote, who has been with BlackBerry for nearly a decade, steps into the role with a wealth of experience. He joined the company following BlackBerry's acquisition of Good Technology in 2015 and has held several senior finance positions, including managing international finance operations and serving as Vice President of Investor Relations. Most recently, Foote was the CFO for BlackBerry's cybersecurity division.

BlackBerry CEO John J. Giamatteo expressed confidence in Foote's appointment, stating, "Tim is a strong, respected, and trusted leader within our finance organization, and he brings a wide range of experience from over two decades of senior finance roles in both public and private multinational companies. Tim's deep knowledge of BlackBerry's business, strong relationship with the investment community, and demonstrated leadership made him an ideal choice for the task ahead."

Foote is taking over from Steve Rai, who has decided to pursue other opportunities outside the company. Rai, who has been with BlackBerry since 2014 and served as CFO since 2019, will remain with the company until September in a consulting role to ensure a smooth transition. "BlackBerry has made tremendous progress in establishing two standalone divisions and driving towards profitability," said Foote. "I'm excited about partnering with the executive team to deliver greater shareholder value."

This leadership change is not just about a new CFO. It reflects BlackBerry's commitment to refining its organizational structure to better align with its strategic goals. The company has also appointed Jay Chai as the Chief Accounting Officer and promoted Fraser Deziel to Corporate Controller, further strengthening its finance team.

BlackBerry, known for its intelligent security software and services, is leveraging AI and machine learning to deliver innovative solutions in cybersecurity, safety, and data privacy. The company's software powers over 235 million vehicles on the road today, underscoring its significant impact on the technology landscape.

As BlackBerry continues to evolve, the appointment of Tim Foote as CFO marks a pivotal moment. With his extensive background and deep understanding of the company's operations, Foote is well-positioned to lead BlackBerry's finance team through this transformative phase.