updated 08:55 pm EST, Fri March 7, 2008
Moto Stu Reed Leaves
In a surprise evening announcement, Motorola on Friday revealed that the firm's Mobile Devices chief Stu Reed has chosen to leave the company. The executive had spent just eight months in the role after being promoted from the company's supply business and is said to be departing immediately from his position, which primarily addresses the company's cellphone business. No reason has been given for Reed's departure, though the company notes that he has launched "key initiatives" that will form the basis for future plans. The company has also declined to name an immediate successor.
The sudden exit comes just a day after marketing chief Kenneth Keller Jr. left the company, prompting concerns of a major conflict or exodus within the company's senior ranks. The company's longtime head Ed Zander also stepped down in November to move to the "next phase" of his life, being replaced by current CEO Greg Brown. Much of the present-day crisis is believed to stem directly from dramatic marketshare losses in 2007 and the resulting $138 million deficit in the last quarter, which have both compounded existing troubles for the company and ceded share to rival cellphone producers such as Nokia and Sony-Ericsson.