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Zander steps down as Motorola chief

03 декабря 2007

Ed Zander, the embattled chief executive of Motorola, has stepped down as the mobile phone company struggles to contend with a slump in market share.

Mr Zander, who rode a revival of Motorola through the launch of the Razr mobile phone before the company again faltered, has been under pressure from shareholders including Carl Icahn, the billionaire activist investor, to resign for almost a year.Zander steps down as Motorola chief

The core mobile phone operations plunged into loss this year amid criticism that the US company had not developed a successor to the flagship Razr product and had sacrificed trading margins to boost sales.

Motorola’s share of the global mobile phone business has tumbled from about 21 per cent to about 13 per cent in the latest quarter as it has failed to generate excitement over any new handsets, in contrast to others such as Apple’s iPhone. As a result, it has lost its number two ranking after Nokia to Samsung.

However, recently there have been signs that Motorola’s strategy is beginning to pay off, and Tom Meredith, its chief financial officer, has forecast that the mobile phone unit will return to profit next year.

Mr Zander will step down on January 1. He will be succeeded by Greg Brown, 47, currently chief operating officer.

Mr Zander said the decision to resign now was his and reflected his desire to spend more time with his family. “It was a tough decision because I love the job,” he said.

Mr Icahn, who failed earlier this year to get a seat on the board, said the replacement of Mr Zander was “a positive step”. However, he repeated calls to split the company into three. “The steps announced do not even begin to address the major problems at Motorola,” he said in a statement.

Wall Street analysts generally saw the management changes as positive, but some worried the departure may signal the nascent turnround is foundering.

Источник: Financial Times

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