New CFO at Moto ...
>> Motorola Reshuffles Management all Over Again
Narayan Bhat
TMCnet
22 February 2008
tinyurl.com
Mobile handset maker Motorola has named Paul J. Liska as executive vice president and chief financial officer.
Liska's appointment came a month after the company announced that its plan to separate its mobile devices unit as part of a "structural and strategic realignment" to help it regain share.
Before joining Motorola, Liska served as an industrial partner for various private equity firms including MidOcean, CVC and Ripplewood. He officially takes over on March 1. Between 2004 and 2006, Paul Liska held the position of executive chairman of US Freightways until its purchase by Yellow Roadway.
The company's acting CFO, Tom Meredith, will continue as a non-management board member. He will report directly to Motorola's Chief ExecutiveGreg Brown ( News - Alert), Motorola said in a press release.
Brown stated, "Since appointing Tom Meredith as acting CFO, we have undertaken a thorough search process to identify candidates with financial, operational and strategic experience. We are fortunate that Paul has such a broad set of general management and CFO experiences. Paul will be a very valuable addition to our team and he is well-suited to drive forward the important work already underway to enhance our financial performance."
Motorola’s mobile unit, which created the popular Razr handset, has been struggling as the handset maker started losing market share to rivals such as Nokia andSamsung ( News - Alert).
Motorola has reshuffled top management several times over the years as it is under pressure to regain the market share that the handset maker has lost. The business accounted for about half of revenue and lost $388 million in the fourth quarter. Phone shipments plummeted 38 percent last quarter, bringing Motorola closer to losing its spot as the world's third-largest handset maker. ###
>> Motorola Names Paul J. Liska Chief Financial Officer
Motorola Press Release
Schaumburg, Ill.
21 February 2008
tinyurl.com
Motorola, Inc. (NYSE: MOT) today announced Paul J. Liska has been named executive vice president and chief financial officer (CFO) of Motorola, effective March 1, 2008. Mr. Liska will report directly to Greg Brown, president and chief executive officer. Tom Meredith, the company’s acting CFO will continue as a non-management board member and will work closely with Mr. Liska to ensure a smooth transition.
Brown stated, "Since appointing Tom Meredith as acting CFO, we have undertaken a thorough search process to identify candidates with financial, operational and strategic experience. We are fortunate that Paul has such a broad set of general management and CFO experience. Paul will be a very valuable addition to our team and he is well-suited to drive forward the important work already underway to enhance our financial performance."
Brown added, “On behalf of the board and the management team, I want to thank Tom for his significant contributions over the last year. He has played an important role in improving Motorola’s cash conversion cycle and cost structure. The changes implemented under Tom's leadership have helped position Motorola for renewed success. I am pleased that Tom will help through this key transition period.”
Prior to joining Motorola, Mr. Liska served as an industrial partner for various private equity firms including MidOcean Partners, CVC Capital Holdings and Ripplewood Holdings LLC. From 2004 to 2006, Mr. Liska served as executive chairman of US Freightways until its purchase by Yellow Roadway Corporation and served in various capacities with Weekly Reader Companies, including executive chairman. From 2001 to 2004, Mr. Liska held several positions with Sears, Roebuck and Co., including president of credit and financial products and executive vice president and chief financial officer. Prior to joining Sears, Mr. Liska was executive vice president and chief financial officer of The St. Paul Companies from 1997 to 2001. ###
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