Communication equipment maker Motorola, Inc. (MOT) Monday said that Dan Moloney, president of its Home business has decided to step down to become chief executive officer of electronic components producer Technitrol, Inc. (TNL).
Motorola said Sanjay Jha, co-chief executive officer and CEO of Mobile Devices and Home businesses, will continue to lead the previously announced combined Mobile Devices and Home businesses, as well as take the leadership role for the Home business, effective immediately.
Moloney had been Executive Vice President and President of Motorola's Home and Network Mobility business, which provides integrated and customized end-to-end media solutions for cable, wireline, and wireless service providers.
Prior to joining Motorola, Moloney was associated with General Instrument Corp., which was later acquired by Motorola in 1983, as a member of the corporate financial and planning staff.
"We appreciate Dan's many contributions to Motorola, including driving our global video leadership, success in 4G and, most recently, shipping our 100 millionth digital entertainment device," said Greg Brown, co-chief executive officer and CEO of Enterprise Mobility Solutions and Networks businesses.
MOT is currently trading at $6.86, down $0.15 or 2.14% on a volume of 18.18 million shares on the NYSE.
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