Motorola today announced that it will split into two companies on January 4th 2011 after its board of directors approved the separation. Motorola, Inc. rename itself to Motorola Solutions, Inc. (tradking on the New York Stock Exchange as MSI) and its mobility divsion will become Motorola Mobility Holdings, Inc. (trading as MMI).
In a joint statement, Greg Brown, Motorola co-CEO and CEO of Motorola Solutions, and Sanjay Jha, Motorola co-CEO and CEO of Motorola Mobility, said: “Today’s announcement marks another important milestone toward the upcoming separation that is expected to benefit Motorola, its stockholders, as well as each company’s respective customers and employees. We look forward to taking advantage of the opportunities before us as we begin the new year as two independent, publicly traded companies.”
There is no real change at the top: Dr. Sanjay Jha will be the Chief Executive Officer of Motorola Mobility while Greg Brown will be President and Chief Executive Officer of Motorola Solutions.