Motorola announces Sanjay Jha as a new head of his handset division. Before Motorola he works for Qualcomm.
Sanjay Jha will also be sharing the responsibility with incumbent George Brown.
According to Goldman Sachs analysts Simona Jankowski and Thomas Lee recruitment of Sanjay Jha’s is a big win of Motorola and loss for Qualcomm.
He was president of Qualcomm.
Sanjay Jha has doctorate in electronic and electrical engineering.
After this, Motorola shares rose 84 cents, or 9.5 percent, to $9.65 in morning trading and
Qualcomm shares fell $1.88, or 3.4 percent, to $53.59.
Sanjay Jha will receive 3.7 million restricted shares which values approximately $35 million according to Monday’s stock price.
Source AP