After four tumultuous years at the head of Motorola Inc., Edward Zander is stepping down as chief executive officer of the wireless handset and communications equipment company to be replaced effective January 2008 by current president and chief operating officer Gregory Brown.
Zander is staying on as chairman at the Schaumburg, Ill,. company but is likely to relinquish even that title by sometime towards the middle of next year, according to a statement issued by Motorola.
Zander took over as chairman and CEO of the company in January 2004 at a time it was locked in a fight with market leader Nokia Oyj for leadership in the mobile handset market.
The company continued to lose marker share under Zander and has since slipped to the third position, yielding the No. 2 slot to Korean electronic giant Samsung Electronics.
Motorola said Zander, 60, was handing over the reins at the company to allow him spend more time with his family. "Next year marks my 40th year in the technology industry," Zander said. "This is the right time for me to move on to the next phase in my life and spend more time with my family."
Brown, 47, has held numerous positions at Motorola. Prior to his appointment as president and COO, he managed the company's networks and enterprise operations and was previously executive vice president of Motorola's commercial, government and industrial solutions business.
Brown joined Motorola in 2003 from Micromuse Inc., where he was chairman and CEO between 1999 and December 2002.
" I welcome this opportunity to lead Motorola successfully into the future," said Brown in a statement.. We have a lot to do and I am intensely focused on building shareholder value. I look forward to working closely with Ed to ensure a smooth transition."