Beleaguered Motorola’s CEO Zander out; ‘plans to spend more time with his family’

“Mobile phone maker Motorola Inc said Friday that Chief Executive Ed Zander will step down on Jan. 1 and be replaced by Chief Operating Officer Greg Brown,” Ritsuko Ando and Jim Finkle report for Reuters.

“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,” Ando and Finkle report.

Full article here.

The Associated Press reports, “Last month, Motorola reported a 94 percent drop in third-quarter profit… The cell-phone unit, Motorola’s biggest, saw quarterly sales plunge 36 percent to $4.5 billion and recorded an operating loss of $138 million. That was nearly $1 billion worse than a year ago but only about half the $264 million loss of the second quarter.”

Full article here.

Motorola’s press release, in which Zander states, “This is the right time for me to move on to the next phase in my life and spend more time with my family,” is here.

[Thanks to MacDailyNews Readers “MrKruser” and “Fred Mertz” for the heads up.]

“Spend more time with my family.” Classic.

Motorola Chairman and CEO Ed Zander says his company is ready for competition from Apple’s iPhone, due out next month. “How do you deal with that?” Zander was asked at the Software 2007 conference Wednesday in Santa Clara, Calif. Zander quickly retorted, “How do they deal with us?”IDG News Service, May 10, 2007

31 Comments

  1. Verizon should be next. Look at the Voyage and from a distance its a complete knock off the look of the iPhone home screen. You gotta love how they advertise it as Touch Screen simply to fool buyers. Touch screen yeah right… I’d love to see them do a commercial the same way Apple does and still call it a touch screen.

  2. Lots of CEO’s are “retiring”, it has to do with the upcoming recession brought on by the downturn in the credit/housing market.

    Time for new blood and ambition.

    Did you know the success of a civilization/country has to do with the males having exactly the right level of testosterone?

    Too much and they are violent, unlikely to remain stable enough to build up a country.

    Too little and they are too passive to take challenges and make the changes necessary to insure success.

    Strange but true.

  3. careful, guys
    Mr Zander could also have some nasty health matter, so tread carefully. Remember Chairman Steve’s pancreatic cancer.
    Anyhoo, things look good for Apple’s business plan for phones.
    dd

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