February 24, 2008, 8:25 PM — Motorola President and CEO Greg Brown added another piece to the company's new
management team on Friday with the announcement that Paul Liska will become executive
vice president and chief financial officer.
Liska, who has been a partner in several private equity firms and played financial
and general executive roles in transportation, publishing and retail companies,
will take over Motorola's
finances on March 1. Tom Meredith, who has been acting CFO since last year,
will remain on Motorola's board and help Liska with the transition, the company
said in a statement. It praised Meredith for cost-cutting efforts.
Motorola's last permanent CFO, David Devonshire, resigned last March. The company
had run into rough waters after it failed to come up with a popular successor
to the slim Razr clamshell phone. Former President and CEO Ed Zander handed
those two jobs over to Brown in November, though he remains chairman until the
next Motorola shareholder meeting in May.
Since Brown took Zander's place, Chief Technology Officer Padmasree Warrior
has also left, and the company has said it might spin off its handset business.
Motorola has fallen behind both Nokia
and Samsung in the
hotly contested mobile-phone market, but its handset division still brought
in US$4.8 billion of the company's US$9.6 billion revenue in the fourth quarter
of last year. The company as a whole saw revenue fall from $11.8 billion a year
earlier and earnings per share drop to $0.04 from $0.25.