Subject: [NEXTEL-1] Motorola president says he's interested in top job

From: [email-masked]
Date: Wed, 24 Sep 2003 23:05:11 -0400

Motorola president says he's interested in top job

By Sinead Carew

NEW YORK, Sept 24 (Reuters)

Motorola Inc. President Mike Zafirovski said on Wednesday he would like to
be the next leader of the world's No. 2 cell-phone maker, which was thrown
into turmoil by last week's surprise retirement of its chairman and chief
executive.

"Of course I'm interested in the job," Zafirovski told Reuters after he gave
a speech to the the U.S.-China Business Council in New York City.
He did not address a question on whether the board has approached him about
the job.

Motorola also acknowledged that design chief Tim Parsey, responsible for
some of the popular, cutting-edge cell-phone designs that helped the handset
business return to profits, left the company last week to join toy maker
Mattel Inc.

Motorola's shares hit a new 52-week high at $12.56 at one point on
Wednesday, but closed off 4 cents at $12.26 in trading on the New York Stock
Exchange.

Schaumburg, Illinois-based Motorola is looking for a new leader after
Christopher Galvin said last week he would leave, citing conflicts with the
board over strategy. He said he will remain until a successor is named.

The question is whether the board promotes Zafirovski or hires an outsider,
analysts and investors have said. There are supporters for both approaches.

Some argue Zafirovski would promote continuity and stem executive turnover
while still bringing an outside approach as he only joined the company in
2000. Others want a non-Motorola executive, one with fresh ideas who is not
associated with past missteps by the company.

NO PLANS TO LEAVE

Zafirovski said the board has a lot of experience and will make the right
decision. When asked whether he would leave if not promoted, he responded,
"I'm very happy at Motorola. I have no plans to leave Motorola at this
time."

Analysts have said they expect Zafirovski to leave if he is not promoted.
Some see Zafirovski as a natural successor for Galvin and fear a prolonged
search or hiring a CEO from outside could trigger a mass executive exodus.

Motorola said Parsey's exit was a coincidence and had nothing to do with
Galvin's resignation, but analysts have worried uncertainty might lead to
others leaving.

Parsey joined Motorola in late 1999 from Apple Computer Inc., touted as one
of the outsiders bringing a new perspective. No replacement has been named.
His exit was not welcomed by investors and analysts.

"That's a big blow for Motorola, said Shawn Campbell, principal with
Chicago-based Campbell Asset Management, which holds Motorola preferred
shares. "He was really one of the integral parts in the turnaround of the
handset business."

Zafirovski, known to friends and colleagues as "Mike Z," is well-regarded
for achievements such as returning Motorola's cell-phone unit to profits.
But he is also perceived as someone who can bring new ideas to the company
he joined from General Electric Co.

Zafirovski took on his current role as Motorola's No. 2 executive in July
last year. Galvin joined the company in 1973 and became CEO in 1997.
Galvin's retirement will end three generations of family control as his
grandfather started the company and his father built it into a technology
powerhouse. (Additional reporting by Ben Klayman in Chicago)

http://www.forbes.com/work/newswire/2003/09/24/rtr1090808.html

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