Motorola Names New CFO

Motorola (MOT Quote) introduced a new chief financial officer late Thursday, but the shake-up was doing little to buoy the company's flagging stock price.

The Schaumburg, Ill., handset maker said Paul Liska will take over the position of financial chief next month, replacing Tom Meredith. Meredith had been the acting CFO after David Devonshire retired from the company.

Previously, Liska had been a partner at several private-equity companies, such as MidOcean Partners and CVC Capital Holdings.

The news was unimpressive to shareholders, as Motorola fell more than 1% in the premarket session.

The appointment of Liska comes at a time of upheaval for Motorola, which has lost nearly 30% in 2008 amid dismal earnings and worries about its direction.

Late last year, Greg Brown took over as chief executive, replacing Ed Zander, who had fallen out of favor with shareholders. The company is now looking at the possibility of splintering off its handset business, which has seen its market share eroded by rivals Nokia (NOK Quote) and Samsung.