Three months after third-generation CEO Christopher Galvin announced that he would step down, Motorola
Tuesday morning, Motorola named former Sun Microsystems
Motorola is hoping that an outsider will bring a fresh perspective to what needs to be done.
Galvin, whose grandfather started Motorola 75 years ago, announced his resignation in September. He was driven out by the board of directors because of differences over the company's future, and Galvin's failure to take timely, decisive action. One of those differences concerned the semiconductor business. Not long after Galvin's announcement, the company announced that unit would be spun off.
Motorola had once been the world's leader in cell phone sales. But under Galvin's leadership, Motorola dropped to No. 3, behind Nokia
With that in mind, it's largely positive that Motorola chose a fresh face with big-time experience. Zander will take over as CEO on Jan. 5, 2004.
Mike Zafirovski, Motorola's president and COO, had been considered by many to be a leading candidate for the position. In the press release announcing Zander's appointment, the company said that he would maintain his current role.
More from The Motley Fool
GM Proved Doubters Wrong in 2017 With a Strong Crossover Lineup
GM surprised the market when it announced strong guidance thanks to a revamped line of crossovers and SUVs. Better still, it delivered on the promises.
Ford's Behind-the-Scenes Focus on Data
Ford’s recent partnerships and small-scale tests could bode well for the future.
Ford's Tumultuous 2017
Ford’s stock languished behind GM throughout 2017. Will 2018 be a turnaround year?