Motorola Plans Spinoff
Motorola Thursday confirmed plans to split into two companies early next year. One of the companies will consist of Motorola's Company's Mobile Devices and Home businesses, while the other will be comprised of its Enterprise Mobility Solutions and Networks businesses.
Dr. Sanjay Jha will run the mobile devices side, while Greg Brown will take over the enterprise mobility and networks side. The two are currently co-CEOs.
The split, scheduled for the first quarter of next year, while be accomplished via a tax-free stock dividend of shares.