(Reuters) -BlackBerry’s CEO John Chen has resigned and will exit the company on Friday, the Globe and Mail reported on Monday citing a source familiar with the matter.
The Canadian technology company is expected to announce an interim or full-time replacement, expected later in the day, according to the report, which did not give details on why Chen was leaving.
U.S.-listed shares of the company gained 7% in late afternoon trading on the report.
Chen joined BlackBerry in November 2013 and led the company’s turnaround efforts in pivoting it from consumer hardware business to one that focused on enterprise software.
Once known for its full-keyboard business phones, BlackBerry saw its business suffer after the launch of Apple’s iPhone in 2007 and the rapid adoption of Android-powered smartphones around that time.
It had since moved to focus on cybersecurity, in-car software and Internet of Things (IoT) applications.
Earlier this month, the company said it would separate the IoT and cybersecurity units and target a subsidiary initial public offering for the IoT business next fiscal year.
Last year, it pulled the plug on its smartphones business and has since been trying to sell its legacy patents related to its mobile devices.
BlackBerry did not immediately respond to a Reuters request for comment.
(Reporting by Yuvraj Malik and Chavi Mehta in Bengaluru; Editing by Shailesh Kuber and Krishna Chandra Eluri)
