Motorola CEO:Split Will Speed Pace Of Mobile Devices ReboundA spin-off of Motorola Inc.’s mobile-devices business will accelerate the pace of its recovery, according to Chief Executive Greg Brown.
Making the handset business independent will attract a “world-class” CEO, Brown told analysts during a conference call Wednesday. The move also will make the operation more flexible, competitive and allow it to tailor its capital structure specifically for the business.
“Clearly there’s a lot more work to be done,” Brown said about the period between now and when the company expects to make the change next year. “It will be a product-led recovery. We’re taking steps now to ensure and solidify that direction.”
Brown provided few specifics on the company’s plans, saying it was in its early stages. The company has yet to determine which business, or if both, would use the Motorola brand. He also declined to comment on Motorola’s first quarter, deferring questions until the company reports late next month.
Motorola already has begun actively looking for a new head of the mobile- devices business, Brown said.
Former Controller Marc Rothman, who now serves as chief financial officer of the mobile-devices business, will stay on as CFO once the business is spun off, Brown said.
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