Mobile UPI  |   About UPI  |   UPI en Español  |   UPI Arabic  |   UPIU  |   My Account
Search:
Go

Motorola to split company in two

|
|
 
  
Published: March. 26, 2008 at 9:48 AM
Advertisement

SCHAUMBURG, Ill., March 26 (UPI) -- Illinois-based Motorola Inc. announced Wednesday it would divide the company, splitting into Mobile Devices and Broadband and Mobility Solutions.

The split would create two publicly-traded companies and provide "flexibility, more tailored capital structures and increased management focus," Chief Executive Greg Brown said in a statement.

The move comes after months of pressure from investor Carl Icahn, who owns 6 percent of Motorola and has positioned himself to nominate four candidates for Motorola's board at the annual meeting in May.

The Fortune 100 company, with sales of $36.6 billion in 2007, has been struggling in recent years. A recent cut of 2,500 jobs left the company with 65,000 employees, down from a peak of 150,000 in 2000.

Topics: Carl Icahn, Greg Brown
Recommended Stories
© 2008 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

Order reprints
  
Join the conversation
Most Popular Collections
Protesters, police clash at NATO summit Notable deaths of 2012 2012 Billboard Music Awards
The 137th Preakness Stakes Annual Solar eclipse occurs in U.S. Chen Guangcheng arrives in the U.S.
Additional Business News Stories
1 of 26
President Obama Delivers the Commencement Address at the Air Force Academy Graduation in Colorado
View Caption
Air Force Academy cadet Katherine Lee Dials reacts as another cadet replaces her shoulder boards after walking the line at the United States Air Force Academy Graduation Ceremony at Falcon Stadium on May 23, 2012 in Colorado Springs, Colorado. The Air Force Academy graduated 1074 cadets this year. UPI Photo/Marc Piscotty.
fark
Missing [✔] White [ ] Girl [✔] aaaaaand that's why the news is just now reporting that she disappeared...
What a 19-year old said after peeing in the back of a police car: C) I told you I had to go, you...
Yes I built a gigantic bull sculpture next to the highway. DO I LOOK CRAZY TO YOU?
Kid refuses to wear hearing aid because "Superheroes don't", so Marvel creates one for him
If you are in the mood for a real-life adventure story, read about William Morgan, an American who...
Four-alarm fire on board nuclear submarine in dry-dock at Maine naval base. In other news, half-price...