TORONTO — Jim Balsillie, one of the high-profile executives behind the hugely successful BlackBerry portable devices, is resigning as chairman of Research In Motion Ltd. but will remain co-CEO, absorbing some of the blame for accounting errors worth US$250 million.

"I’m not making any excuses. It’s on my watch, I’m responsible," Balsillie said in a phone interview Monday.

"We’re going to do everything in our power to do the right thing and make sure everything is as it should be."

RIM said it will reduce 3 1/4 years of previously reported earnings by about US$250 million because of errors related to stock option costs — much more than the $25 million to $45 million the company had originally estimated in September.

Waterloo-based RIM said Balsillie will remain a director and co-chief executive, a title he shares with Michael Lazaridis.

The company’s board will undergo changes and chief financial officer Dennis Kavelman becomes chief operating officer for administration and operations...

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