Motorola CEO Zander Will Step Down

He's been under fire for a year over disappointing results
By Sam Gale Rosen,  Newser Staff
Posted Nov 30, 2007 10:20 AM CST
A Motorola RAZR cell phone is seen at a consumer electronics store in Gloucester, Mass. in this Friday, Jan. 19, 2007 file photo. (AP Photo/Lisa Poole, file)   (Associated Press)
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(Newser) – Motorola's besieged CEO, Edward J. Zander, will step down at the end of the year, the Wall Street Journal reports. Zander, who has been under fire from investors for a year for sluggish growth, will be replaced by current president Greg Brown. Motorola's shares rose in response to the news.

"This man got the company into a pickle," one industry told Bloomberg. "He's put the stock in the dumper." Motorola has been floundering while trying to follow the success of its Razr phone. The company slipped to No. 3 in global phone sales, behind Nokia and Samsung. "I recognize the urgency and intensity," said Brown. "We're not standing still." (Read more Motorola stories.)