Motorola named Paul Liska as its new CFO, as part of the company’s efforts to shore up losses and determine the future of its handset business. Liska has ties to the private equity market and was previously chairman of U.S. Freightways and CFO of Sears, Roebuck. He succeeds Tom Meredith who served as interim CFO; Meredith will continue as a director, the company said in a statement.
The failing handset maker saw phone shipments drop 38% last quarter and its market share slowly eroded by rivals. Motorola lost its No. 2 spot worldwide to Samsung last year, and Sony Ericsson is slowly gaining on its place as third. The company also announced last month that it was looking into options for its handset business, including selling off the unit.
Liska will begin his new position March 1.