© Reuters. FILE PHOTO: The Blackberry logo is shown on a office tower in Irvine, California, U.S., October 20, 2020. REUTERS/Mike Blake/File Photo
(Reuters) -Canada’s BlackBerry (NYSE:) on Monday named insider John Giamatteo as its chief executive officer, succeeding John Chen, who stepped down in November.
The technology company also shelved its plan to pursue a public listing for its internet-of-things (IoT) business.
BlackBerry said it would streamline its centralized corporate functions so that each business unit may operate independently and on a profitable and cashflow-positive basis going forward.
Following a strategic review, the company earlier said it would separate the IoT and Cybersecurity businesses and establish them as standalone divisions.
Giamatteo has served as the president of the company’s Cybersecurity unit since October 2021.