LONDON Ed Zander is stepping down at the end of the year from his post of CEO at Motorola, and will become chairman of the board until next May. President and chief operating officer Greg Brown has been tapped as CEO.
Zander has been under pressure for several months from shareholders, including billionaire Carl Icahn, who saw the company as badly undervalued and misfiring on the mobile phone front.
"Next year marks my 40th year in the technology industry," Zander said in a statement Friday (Nov. 30). "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 joined Motorola in 2003 and has served as president and COO since March. Prior to joining Motorola, Brown was chairman and CEO of Micromuse Inc., a network management software company.