November 4, 2013: 9:01 AM ET
BlackBerry stock
BlackBerry has abandoned its plan to sell the company and said it's receiving an investment of $1 billion from majority shareholder Fairfax Financial, the companies announced on Monday.
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 , 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 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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