Motorola names Qualcomm COO to head cell phones
NEW YORK (Reuters) - Motorola Inc (MOT.N: Quote, Profile, Research) named Sanjay Jha, Qualcomm Inc's (QCOM.O: Quote, Profile, Research) former chief operating officer, to head its loss making mobile devices business and become co-chief executive with Greg Brown, the company said on Monday.
Shares of Motorola, which plans to split off its mobile division as a separate company in 2009, rose nearly 4 percent in pre-market trading to $9.15 from their Friday close on the New York Stock exchange of $8.81.
Some investors had worried that Motorola, which has been has been looking for a new chief for its mobile phone unit since early this year, was having trouble attracting strong candidates.
The company has struggled with market share losses in the cell phone unit due to a lack of advanced phones or a strong follow-up to its once-lauded Razr phone.
Jha, 45, has worked at wireless chip supplier Qualcomm since 1994. He also served as president of its chip and software division. Qualcomm said Len Lauer would be the company's new COO.
(Reporting by Sinead Carew; Editing by Derek Caney)
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