Motorola has named Sanjay Jha as their new head of their handset division. Sanjay Jha was the current COO at Qualcomm.
The move has been well received in the investing community, where the move is seen to be an improvement in Motorola's overall strategy.
"We believe he is very well respected both in industry and in the investor community," wrote Goldman Sachs analysts Simona Jankowski and Thomas Lee. "From Motorola's perspective, we expect this will improve the company's competitive positioning faster than if an executive of lesser stature had been attracted as CEO."
Sanjay Jha has enormous experience in the cell phone industry. He has served as Chief Operating Officer of Qualcomm since December 2006 and as Executive Vice President since December 2003.
Sanjay Jha will receive stock worth $35 million as part of his new deal with Motorola. He will also receive an option to buy 16.6 million more shares.
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