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SCHAUMBURG, Ill.-Motorola Inc. announced Mike Zafirovski, currently executive vice president and president of Motorola’s personal communications sector, has been elected to serve as the company’s new president and chief operating officer.
Zafirovski’s appointment follows former president and COO Edward Breen’s recent acceptance of the job of chairman and chief executive officer of Tyco International Ltd.
By mid-day Friday, following the news, shares of Motorola were down $1.28, or 10.51 percent, to trade at $10.90, while shares of Tyco went up more than 40 percent.
