After the company announced it was considering spinning off its handset division, Motorola’s CEO Greg Brown said he is assuming direct control of the company’s handset business. Brown succeeded Ed Zander as the struggling handset maker’s CEO in January; as for the handset business, he is taking it over from Stu Reed, who has overseen the unit since July.
According to a Reuters report, the company made the announcement to employees in an internal memo on Friday. The move is likely further evidence of the company’s continued efforts to restore its flagging mobile handset business.
Over the weekend, activist investor Carl Icahn also named his four nominations to Motorola’s board. He said that he hopes having representatives on the board will ensure the company actually spins off or sells the handset unit, a move he has been advocating. According to The Wall Street Journal, Ichan now owns a 5% stake in Motorola.
His four nominations are Frank Biondi Jr., former Viacom CEO; William Hambrecht, founder of underwriter W.R. Hambrecht & Company; Lionel Kimerling, MIT professor and semiconductor expert; and Keith Meister, managing director of Icahn’s investment funds.
