BlackBerry on Monday, November 5, abandoned hopes of finding a buyer, and instead pegged its future on a $1-billion cash infusion and new management, after the departure of its chief executive. Its largest shareholder Ontario-based Fairfax Financial, which offered to buy the rest of the business nearly 3 months ago, instead announced it will invest $1 billion. CEO Thorsten Heins will step down and will be replaced on an interim basis by John Chen, a statement said. BlackBerry helped create a culture of mobile users glued to smartphones, but lost its luster as many have since moved to iPhones or devices using Google’s Android software. Most recent numbers suggest the unveiling of a new platform in January did not help it regain lost momentum. Blackberry shares plunged 15 percent Monday in early trade.
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