Motorola Strategy Chief Quits
Motorola's (MOT) chief strategy and technology officer, Rich Nottenberg, has resigned.
Nottenberg's exit follows a recent string of senior executives departures as Motorola staggers from shrinking demand for its cellphones.
The company announced Nottenberg's resignation internally on Thursday, said Jennifer Erickson, a company spokeswoman, Saturday. Nottenberg left the Schaumberg, Ill.-based telecom equipment maker to return to the New York area to be with his family and pursue other opportunities, Erickson said.
News of the departure was reported late Friday on
The Wall Street Journal's
Web site.
Nottenberg was appointed head of strategy in 2004 and then assumed the CTO's mantel last December, after his predecessor, Padmasree Warrior left Motorola.
As CTO, Nottenberg was in charge of the company's advanced research unit, Motorola Labs. Dan Moloney, who heads Motorola's Home & Networks mobility business, will now lead Motorola Labs, Erickson said.
Motorola shares lost 6 cents Friday to close at $10.07.
This article was written by a staff member of TheStreet.com.