BlackBerry names insider Tim Foote as CFO

(Reuters) - Canada's BlackBerry said on Monday Tim Foote will succeed Steve Rai as chief financial officer, effective immediately, as the cybersecurity company looks separate its internet of things (IoT) and cybersecurity businesses.

Foote, who has been with the company for close to a decade, was most recently CFO of the cybersecurity division.

Rai is leaving to pursue other opportunities outside of the company, Blackberry said. Rai has been CFO since 2019.

"BlackBerry has made tremendous progress in establishing two standalone divisions and driving towards profitability," said Foote.

The company said in June it expects second-quarter revenue for its cybersecurity unit to be between $82 million and $86 million.

(Reporting by Priyanka.G in Bengaluru; Editing by Shreya Biswas)