Thursday, March 6, 2008

President of Motorola's Mobile Devices Steps Down

Motorola announced the resignation of Stu Reed, president of its Mobile Devices business, effective immediately.http://www.motorola.com

  • On January 31, Motorola confirmed that it is exploring strategic alternatives for its Mobile Devices business. Motorola said at that time that its alternatives may include the separation of Mobile Devices from its other businesses in order to permit each business to grow and better serve its customers.


  • In January, Motorola reported Q4 2007 sales of $9.65 billion and net earnings of $0.04 per share, which include $0.05 per share from continuing operations and a net loss of $0.01 per share from discontinued operations. The company said its Mobile Devices business remains challenged, with sales declining 38 percent versus prior-year quarter, while its Home & Networks Mobility and Enterprise Mobility Solutions business continued to deliver strong results.

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