Motorola’s difficult 12 months have forced out its long-serving CEO, Ed Zander.
A series of profit warnings and uninspiring new product launches have piled pressure on Zander who, as recently as two years ago, was presiding over huge growth in share thanks to the RAZR V3.
Current COO Greg Brown will replace Zander, following his decision to step down.
Brown has been with the company since 2003 and will replace Zander on 1 January 2008. Zander will remain chairman until May.
Last month, Motorola posted a 94% fall in third-quarter profits and sales, down from $10.6bn to $8.8bn. The company admitted that sales of its handsets had fallen by 36%.
Motorola has fallen to third place behind Nokia and Samsung in the global handset market and has been forced to cut prices, which in turn has damaged its margins.
Zander, who spent four years at Motorola, said: ‘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.’