Motorola names Brown as new CEO
Motorola announced that President and COO Greg Brown will succeed Ed Zander as the company’s CEO effective Jan. 1.
Zander, 60, will remain as Motorola’s chairman until the annual stockholders’ meeting in May. Zander had identified Brown as his successor two years ago, Motorola spokesperson Jennifer Erickson said. According to an SEC filing, Zander will receive no severance package for stepping down as CEO.
“It was Ed’s decision to retire as CEO … and spend more time with his family,” Erickson said during an interview with MRT.
The 47-year-old Brown has been Motorola’s president and COO since March 2007. Previously, Brown headed the company’s enterprise mobility business unit, which includes mission-critical communications solutions for public safety, and led Motorola’s $3.9 billion acquisition of Symbol Technologies.
In a statement, Zander described Brown as an “invaluable partner” and “the right person to be the next CEO of Motorola and lead the company through its multi-year transformation.” Brown said he is “privileged” to become Motorola’s CEO.
“I welcome this opportunity to lead Motorola successfully into the future,” Brown said in a statement. “We have a lot to do, and I am intensely focused on building shareholder value.”
Erickson said Brown plans to retain his president and COO titles for some time, so he can maintain greater visibility into the company.