In Short

Prem Watsa is the CEO of Fairfax Financial, a property, casualty and life insurance company based out of Toronto. Watsa sat on the board at BlackBerry before leaving in August of 2013. 

Fairfax had entered into an agreement to purchase BlackBerry in a deal worth $4.7 billion on September 23, 2013. The deal was later called off however Fairfax and other institutional investors made a $1 billion investment in BlackBerry on November 4th, 2013. In a news release the same day it was stated that Prem Watsa would become Lead Director at BlackBerry.