Motorola Inc. (MOT) announced Monday that top executive Dan Moloney, who had been with the company for a decade, has left Motorola to man the helm of a small electronic-parts manufacturer. Moloney’s exit is one the business world has become familiar with in the last year; a major CEO leaves while the company attempts to reform its business strategy.
Moloney was becoming increasingly dispensable to the company after the recent changes made his position, overseeing the home unit responsible for television set-top boxes, significantly less vital to Motorola operations. His position will be resumed by Co-Chief Executive Sanjay Jha, who will now oversee both home and mobile devices. Talk of combining the two units has been circulating for time.
Moloney, was reportedly highly regarding within the company, where he oversaw the home business, and before hand, the networks division. Prior to those positions, he served as a manager for General Instrument for 16 years.
Following his departure Moloney will take on the position of chief executive of Technitrol Inc. (TNL), an electronic component produce.
Motorola shares slipped 2.1% to $6.86.
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