BREEN BOLTS MOTOROLA; ZAFIROVSKI TAKES HELM

Ed Breen's resignation as president and CEO of Motorola stunned the company. Initially, Motorola issued a press release stating that Chairman and CEO Christopher Galvin would assume Breen's duties. A short time later, Mike Zafirovski, an executive from within the company's personal communications sector, was named as the replacement.

“I only had a few hours of notice,” Galvin said during a hastily arranged conference call.

While seeking board approval for Zafirovski's appointment, conglomerate Tyco issued a press release naming Breen as its new CEO. SEC regulations required Motorola to respond in kind, which it did during the 20-minute board meeting to confirm Zafirovski.

“We were unable to get Tyco's cooperation on the timing of the events,” Galvin. “I'm sorry that happened. We were able to respond in about six hours.”

Zafirovski brings 14 years of managerial experience to the position. He was among the candidates for COO when Breen “won that particular assignment kind of by a nose,” Galvin said.

“Mike has a spectacular set of values relative to loyalty and high ethics,” said Galvin. “He's indicated he's a member of the team.”

Zafirovski will continue as executive vice president of PCS while the company sorts through candidates for that position. He insisted that the business would not miss a beat during the transition and expected to retain top managers.