Smartphone maker BlackBerry has abandoned its bid to sell itself and is replacing its chief executive.

Research In Motion’s new leader said yesterday the Blackberry maker did not need seismic change, a declaration seized on by impatient investors who pledge Thorsten Heins will be an interim chief executive if he does not turn RIM around quickly.

BlackBerry maker Research in Motion’s co-chief executives, Jim Balsillie and Mike Lazaridis, are stepping down, the company said today.