July 29 (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.