Amidst the ailing business conditions, Motorola has appointed poached Qualcomm's COO Sanjay Jha as the Co-Chief Executive Officer, and the CEO of the company's mobile device business. The telecommunication firm has tapped Qualcomm's Chief Operating Officer (COO) Jha, with the hope that it's declining position will be rectified through his expertise in phone technology. Moreover, its stock jumped almost 10 percent after the vendor hired a CEO for its struggling wireless-handset unit.
The new appointed CEO is expected to level up the present conditions as handset business has reported losses for six successive quarters. Its global market share has fallen to 9.5 percent from 24 percent two years ago, taking it from second to third place behind Nokia and Samsung. The Schaumburg, III based company's profits and market share have slumped and its share price has tumbled as it failed to find a replacement for its popular Razr mobile phone, which sold more than 50 million units. Shares fell by 60 per cent since October 2006, as investors began to become disillusioned with the company's falling sales.
Though analysts called his appointment "a big win" for Motorola and a loss for Qualcomm, the credibility of the newly appointed CEO of Motorola's mobile device business is questionable. As the company required someone who has a better hold on the knowledge of consumer electronics, cutting supply chain costs, global retail, while he doesn't have an experience in those spheres.
With the plans of being the two independent, publicly traded companies, Motorola retained Greg Brown as the Chief Executive Officer of Motorola's Broadband Mobility Solutions and Co-Chief Executive Officer of Motorola.
The new appointed CEO is expected to level up the present conditions as handset business has reported losses for six successive quarters. Its global market share has fallen to 9.5 percent from 24 percent two years ago, taking it from second to third place behind Nokia and Samsung. The Schaumburg, III based company's profits and market share have slumped and its share price has tumbled as it failed to find a replacement for its popular Razr mobile phone, which sold more than 50 million units. Shares fell by 60 per cent since October 2006, as investors began to become disillusioned with the company's falling sales.
Though analysts called his appointment "a big win" for Motorola and a loss for Qualcomm, the credibility of the newly appointed CEO of Motorola's mobile device business is questionable. As the company required someone who has a better hold on the knowledge of consumer electronics, cutting supply chain costs, global retail, while he doesn't have an experience in those spheres.
With the plans of being the two independent, publicly traded companies, Motorola retained Greg Brown as the Chief Executive Officer of Motorola's Broadband Mobility Solutions and Co-Chief Executive Officer of Motorola.
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