Schaumburg, Ill. — Motorola announced that its CEO Ed Zander, 60, is stepping down and Greg Brown, president/COO, has been selected by its board to replace him as of Jan. 1.
Zander will continue as chairman until Motorola’s annual meeting in May 2008.
In a prepared statement, lead director Samuel C. Scott III, 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.”
He 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.”
Zander said in the same statement, “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.”
Brown has been president/COO of Motorola since March and was voted onto the board earlier this year. Previously, Brown headed four different businesses at Motorola. He also led the $3.9 billion acquisition of Symbol Technologies, the second-largest transaction in Motorola’s history and an important strategic move to strengthen Motorola’s enterprise offering.
