Motorola's chairman and chief executive officer, Christopher Galvin has announced that he is to retire from the company, ending a controversial six years at the head of the telecoms giant founded by his grandfather. Galvin has agreed to remain as chairman and CEO until his successor is named and will work closely with the board's search committee to identify a replacement.
"The board supports Chris Galvin's decision to retire and appreciates his commitment to a successful transition while the board begins its internal and external search for a new chairman and CEO. We also are very appreciative of his service to Motorola over the last 36 years, in particular of his leadership over the last six and a half years as chairman and CEO, as well as his many other contributions," Mr. Pepper added.
A huge restructuring and cost-slashing effort returned it to profitability in 2002 after two years of losses. The company also lost its early-90's position as the worlds number one cellphone manufacturer to Nokia.
"While I have achieved substantial results, the Board and I do not share the same view of the company's pace, strategy and progress at this stage of the turnaround," said Chris Galvin. "Accordingly, it is time for me to pass the baton to new leadership."
Galvin has held the two top jobs since 1997 and has been with Motorola for 36 years."
Posted to the site on 22nd September 2003
Posted to: www.cellular-news.com/story/9755.php