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Motorola's head of strategy resigns
Motorola's chief strategy and technology officer, Rich Nottenburg, is leaving the company in the latest executive departure at the struggling electronics manufacturer. Nottemburg was the head of Motorola's USD4bn research program and was responsible for the firm's investment and acquisition strategy. He joined Motorola in 2004 as a strategic advisor and was appointed senior VP and CSO later that year. He became CTO in Dec to replace Padmasree Warrior, who resigned amid shareholder pressure.
Nottemburg's resignation follows the departure of Motorola's VP of finance James Langrock, who joined job site Monster as senior VP of finance and CAO last week. Earlier this year, chief of marketing Kenneth Keller and the head of Motorola handset division Stu Reed also left the firm.
Last month, Motorola settled a dispute with activist shareholder Carl Icahn, who was putting pressure on the board to spin off the company's loss-making handset unit. The board, which decided to melt down the division in Mar, agreed to reinstate Icahn's chosen board members as part of the settlement. Icahn has recently raised its stake in the firm to 7.6%.
