Never throw out a CEO when he is in the middle of a solid turnaround. Motorola’s (MOT) CEO, Ed Zander is out. The new CEO, Greg Brown, was COO, and there is not reason to believe that he will be better than his predecessor. He clearly did not step up when the company needed him.
But, the really bad news is that Zander is out. Everyone from Carl Icahn to the King of Siam tried to rid the company of him, but he stuck like old gum on a shoe. The departure, though, is a sign that the quarter must be going very poorly. A loyal board would not have sacked him otherwise. Motorola has gone from having 22% of the global handset market early last year to about 15% today. Rival Nokia (NOK) has driven its share up to almost 40%. Samsung and Sony-Ericsson have also gained ground
It is hard to say much for Zander. In the words of Walter Kerr "He had delusions of adequacy."
Douglas A. McIntyre
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