SCHAUMBURG, Ill. - Motorola Inc. said Friday that Stu Reed, formerly president of its troubled mobile device business, has left the company effective immediately.
A spokeswoman said Reed had been preparing for his departure after Motorola announced last month that Chief Executive Greg Brown would take direct control of the division, which saw sales and margins fall last year.
Reed had led the division since last summer. The spokeswoman said she did not know Reed's plans.
Motorola shares soared last month when the company said it may sell the mobile division, which accounted for $19 billion of Motorola's $36.6 billion in sales last year.
The company's cell-phone profit margin and sales slipped last year, and the company fell to third place on the global cell-phone market behind Nokia and Samsung Electronics Co.
Reed's was the second executive departure announced this week as Motorola struggles to win back Wall Street's confidence. The company said Thursday that its marketing chief, Casey Keller, quit at the end of last week after 17 months in the post.
Marketing will be handled by Keller's two former deputies, Eduardo Conrado and Jeremy Dale, the company said.
Motorola shares fell 12 cents Friday to close at $9.82 -- down 39 percent since the start of the year.
A spokeswoman said Reed had been preparing for his departure after Motorola announced last month that Chief Executive Greg Brown would take direct control of the division, which saw sales and margins fall last year.
Reed had led the division since last summer. The spokeswoman said she did not know Reed's plans.
Motorola shares soared last month when the company said it may sell the mobile division, which accounted for $19 billion of Motorola's $36.6 billion in sales last year.
The company's cell-phone profit margin and sales slipped last year, and the company fell to third place on the global cell-phone market behind Nokia and Samsung Electronics Co.
Reed's was the second executive departure announced this week as Motorola struggles to win back Wall Street's confidence. The company said Thursday that its marketing chief, Casey Keller, quit at the end of last week after 17 months in the post.
Marketing will be handled by Keller's two former deputies, Eduardo Conrado and Jeremy Dale, the company said.
Motorola shares fell 12 cents Friday to close at $9.82 -- down 39 percent since the start of the year.
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