Motorola's Zander Steps Down, Razr Not Sharp Anymore!
SCHAUMBURG, Ill. – 30 November 2007 – Motorola, Inc. (NYSE: MOT) today announced that its Board of Directors has elected Greg Brown, 47, as Chief Executive Officer of Motorola, effective January 1, 2008. Mr. Brown currently serves as President and Chief Operating Officer. Mr. Brown will succeed Edward J. Zander as CEO, and Mr. Zander, 60, will continue to serve as Chairman of the Board of Directors until the annual meeting of stockholders in May 2008.
On behalf of Motorola’s Board of Directors, Samuel C. Scott III, lead director, said, “I want to take this opportunity to thank Ed for his vision, expertise and tireless commitment to Motorola. We greatly appreciate his many contributions and wish him all the best in the years ahead. Today’s decision is the culmination of a thoughtful and disciplined process of succession planning.”
Scott added, “The Board is delighted that Greg will serve as CEO. We are confident that he will bring a combination of strategic insight, operational discipline, and inspirational leadership needed for accelerated and sustained growth.”
"We are exceedingly fortunate to have a leader of Greg’s caliber, vision and experience. He has been an invaluable partner and I am confident he is the right person to be the next CEO of Motorola and lead the Company through its multi-year transformation,” said Zander. “Next year marks my 40th year in the technology industry. This is the right time for me to move on to the next phase in my life and spend more time with my family. I am grateful I had the opportunity to lead Motorola over the last four years. It’s been a wonderful experience.”
“I am privileged to become the CEO of Motorola,” said Greg Brown. “This is a unique Company with strong technology, people and customers. I welcome this opportunity to lead Motorola successfully into the future. We have a lot to do and I am intensely focused on building shareholder value. I look forward to working closely with Ed to ensure a smooth transition.”
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