BlackBerry abandons search for buyer

BlackBerry stock

NEW YORK (CNNMoney)

The Canadian smartphone company also said that Thorsten Heins is stepping down as chief executive officer. John S. Chen, former CEO of Sybase and Siemens (SI), will serve as interim CEO, said the company. He was also appointed executive chair of BlackBerry's board of directors.

Related: BlackBerry's hometown vows to survive

BlackBerry's (BBRY)stock plunged 18% in premarket trading.

The company recently appealed in an open letter to its customers to stay loyal.

BlackBerry did not immediately return a message from CNNMoney about its future plans.

First Published: November 4, 2013: 9:01 AM ET

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