Motorola Boss Resigns As Time Warner Director

Motorola's Chief Executive Officer, Ed Zander has resigned as a director of Time Warner, and says he will focus his attention on Motorola. Technically, Zander wont be seeking reelection as a director of Time Warner on May 18th. He was only appointed to the Time Warner board earlier this year, on Jan 25th.

In a securities filing, Zander said that his decision was based "in light of the increased challenges facing Motorola, Inc. and the additional time commitments associated with his position at that company. "

Upon Mr. Zander's election to the Time Warner Board in January, he received a cash retainer of US$31,230 which represented the pro-rata salary payable until the May annual meeting 2007, and an award of stock options to purchase 10,500 shares of Time Warner common stock."

Posted to the site on 2nd April 2007