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Motorola shares rally after Ed Zander steps down as CEO


Published : Fri, 30 Nov 2007 14:36
By : Agencies
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NEW YORK (Thomson Financial) - Shares of Motorola Inc. spiked in premarket trading Friday after the company said Ed Zander was stepping down as chief executive.

The stock shot up 4.8% to $16.40 ahead of the open, a price not seen during regular trading hours since Nov. 15. At that price, the stock is still down 13% since the end of October.

The company said named Greg Brown, currently the company's chief operating officer, as CEO. Zander will remain as chairman of the company.

Earlier in the premarket, the stock was trading around $15.76.

Tomi Kilgore

tk1

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Copyright Thomson Financial News Limited 2007. All rights reserved.

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