Waterloo-based BlackBerry named a new CEO on Monday and says it will no longer pursue a subsidiary initial public offering of its Internet of Things business unit.

Over the past five years, the chief executive gradually reduced the Waterloo, Ont.-based company's dependence on smartphone sales in a crowded market and repositioned the company formerly known as Research in Motion as an innovator in cybersecurity and software.

In general, Canadian companies are a lot better at ensuring executives earn their keep -- but work remains to be done.