Motorola shuffles more managers

SCHAUMBURG -- Motorola Inc., the biggest U.S. mobile-phone maker, shuffled more managers as it struggles to stem losses at its handset division. Larry R. Raymond will replace Steve Strobel as treasurer. Raymond was most recently managing director at private equity firm Oceanus Capital LLC. Stephen Nolan will take over for Mike Fenger as head of the mobile-devices unit in Europe. This month, Motorola replaced the president of its handset division, which has reported four straight quarterly losses.