Motorola kicks off 2011 as two separate companies

Motorola Inc. has officially split into two separate companies, Motorola Mobility Holdings Inc. (MOT) and Motorola Solutions Inc. (MSI). The two-year long plan has also stripped the co-CEO title from the company’s two top executives, leaving each to run a standalone company on his own. Sanjay Jha becomes chairman and CEO of Motorola Mobility and Greg Brown becomes president and CEO of Motorola Solutions.
Motorola Inc. completed a 1-for-7 reverse stock split to finalize the split, which saw stockholders receive 1 share of Motorola Mobility for every 8 shares of Motorola Inc. they held. Motorola Inc. is trading at $9.11 and Motorola Solutions is trading at $37.48.
“We are pleased that Motorola Mobility has reached this important milestone. After more than two years of planning, today we begin operating as a financially strong, independent company trading on the New York Stock Exchange,” Jha said in a statement.
Brown and other Motorola Solutions executives will ring the closing bell at the New York Stock Exchange today to mark the company’s first day of trading under its new ticker symbol.
“With a purpose-driven brand and a strong balance sheet, we are very well positioned for the future,” Brown said in a statement. “Motorola Solutions has an outstanding platform to build from and I believe our opportunities for growth will benefit customers, shareholders and employees.”