Another Motorola executive departs

Lynnette Luna — Mon, 19 May 2008 11:38:04 -0400

Another Motorola executive has departed from the company. Rich Nottenburg, chief strategy and technology officer, is the latest executive to leave amid investor Carl Icahn's activist ways to shake up the Motorola board. Nottenburg's departure follows the replacements of CEO Ed Zander in January, acting CFO Tom Meredith in February along with mobile devices head Stu Reed, Casey Keller, head of marketing, treasurer Steve Strobel and EMEA mobile-devices head Mike Fenger. Dan Moloney, who leads the company's home and networks mobility business, will replace Nottenburg.

Motorola's financial woes continue, with the operator announcing last month that first-quarter losses reached $194 million. Motorola is splitting into two publicly traded companies, one of which is the handset business and the other being the networks business. But analysts don't believe that move will solve the company's problems any time soon. Moreover, LG is closing in on Motorola's worldwide mobile phone market share. LG's market share ratcheted up to 8.6 percent in the first quarter, up from 6.4 percent in the year-ago quarter. Shipments of phones increased year-on-year a sizeable 54 percent during the first quarter.

To find out more about Motorola's latest executive departure:
- check out this CNET article