Motorola (MOT) still does not get it. They attempt to clear some of the decks with high level executive announcements. It should be noted that both the CEO and chairman position is held by the same individual, a Mr. Ed Zander.
The new COO is Mr. Greg Brown. The announcement includes the same story book spin that most high level announcements serve up.
"Greg brings a wealth of experience to Motorola and has demonstrated success in all facets of management," said Zander. "His keen understanding of Motorola's strategy and customer requirements will be invaluable as we execute our revitalized operating plan for the benefit of our customers, partners, employees and shareholders."
Blah blah blah - I think the corporate communications guys just copy this phrase from each other and change the name of the new appointee.
The press release goes on to say, "Motorola is a great company with tremendous assets and talented people," said Brown. "I look forward to continuing to work with Ed and other members of Motorola's leadership team to deliver the products, solutions and quality our customers demand."
Nothing about any changes, which are desperately needed.
Basically, the management strategy is “There’s a pony in here somewhere so keep digging” When in actual fact, they are admiring a hand grenade after the pin has been pulled.
MOT 1-yr chart