NEW YORK (Reuters) - Mobile phone maker Motorola Inc (MOT.N: Quote, Profile, Research) said on Friday that Chief Executive Ed Zander will step down on January 1 and be replaced by Chief Operating Officer Greg Brown.
Zander, who said he plans to spend more time with his family, will continue to serve as chairman until an annual meeting of stockholders in May 2008.
COMMENTS:
BILL CHOI, ANALYST, JEFFERIES & CO
"There was still an outside chance that an outsider, a more experienced telecoms executive could possibility come into Motorola ... That we didn't get today, but either way it's a step in a good direction."
"Getting Greg Brown is to improve execution. The company has lacked execution. It requires focus and that's what Greg is here to do. Motorola still has a lot of the right parts to succeed: a good brand, good R&D strength, good engineers."
"Greg is a good, young executive. There have always been rumors of Motorola being bought out and this signals its intent to remain a standalone company."
LAWRENCE HARRIS, ANALYST, OPPENHEIMER
"Earlier this year Greg Brown was appointed president and chief operating officer and he's clearly done an excellent job. He was being given additional responsibility, and increasingly involved in day-to-day operations of the entire company."
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Zander, who said he plans to spend more time with his family, will continue to serve as chairman until an annual meeting of stockholders in May 2008.
COMMENTS:
BILL CHOI, ANALYST, JEFFERIES & CO
"There was still an outside chance that an outsider, a more experienced telecoms executive could possibility come into Motorola ... That we didn't get today, but either way it's a step in a good direction."
"Getting Greg Brown is to improve execution. The company has lacked execution. It requires focus and that's what Greg is here to do. Motorola still has a lot of the right parts to succeed: a good brand, good R&D strength, good engineers."
"Greg is a good, young executive. There have always been rumors of Motorola being bought out and this signals its intent to remain a standalone company."
LAWRENCE HARRIS, ANALYST, OPPENHEIMER
"Earlier this year Greg Brown was appointed president and chief operating officer and he's clearly done an excellent job. He was being given additional responsibility, and increasingly involved in day-to-day operations of the entire company."
Discuss Add this link to... Bury
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