After 10 years at the helm, BlackBerry CEO Chen Shouzong will retire this Friday.

CTOnews.com, Oct. 31 (Reuters)-John Chen, chief executive of Canadian technology company BlackBerry, will retire on Friday, leaving the company where he has been at the helm for a decade. During his tenure, BlackBerry transformed from a company focused on hardware and devices to a company focused on enterprise software.

The company announced on Monday that Richard Lynch, a member of BlackBerry's board, would serve as interim chief executive while looking for a permanent successor to CEO. Chen Shouzong will also give up his role as chairman of the board and be replaced by Lynch.

BlackBerry's U.S.-listed shares closed 6.5% higher on Monday.

According to CTOnews.com, Chen Shouzong, 68, joined BlackBerry in November 2013. BlackBerry was once known for its full-keyboard business phones, but its business has been hit hard since Apple launched iPhone and Android smartphones in 2007. Since then, BlackBerry has shifted to focus on web security, in-car software and IoT applications.

Earlier this month, BlackBerry said it would separate its IoT business from its cyber security business and plans to conduct a subsidiary IPO for its IoT business in the next fiscal year.

Last year, BlackBerry shut down its smartphone business and tried to sell its legacy patents related to mobile devices.