Motorola Replaces CFO, Shuffles Execs

23 March 07 – Cell phone manufacturer Motorola has replaced their Chief Financial Officer and is shuffling their other executives. The old CFO David Devonshire will be replaced by Thomas Meredith as of April 1^st, and a handful of other top executives are being moved around within the troubled company. Greg Brown is appointed as President and Chief Operating Officer of Motorola and will be specifically focusing on the cell phone handset side of the business, which has been facing sales below estimates and delays in launching new products.  In a press release on their first quarter results, Motorola chairman Ed Zander described the performance of their mobile division as “unacceptable, and we are committed to restoring its profitability…After a further review following the leadership change in our Mobile Devices business, we now recognize that returning the business to acceptable performance will take more time and greater effort.” Zander has also dropped out of delivering a keynote address at the CTIA show next week, presumably to focus on the reshuffle.