Business

Motorola exec Moloney quits to become CEO of Technitrol

Posted February 21, 2010 10:00 pm

Motorola Inc. executive Dan Moloney, president of the set-top-box unit, resigned to become the chief executive officer of Technitrol Inc., the Pennsylvania-based maker of electronic components.

Moloney will join Technitrol at the end of March, according to a statement from the company today. He will replace James Papada, who is retiring. Moloney has run Motorola's set-top-box business since 2002.

Motorola is planning to split in two next year, combining its mobile-phone and set-top box divisions into one publicly traded company and the enterprise mobility and network units into a second business. Motorola said this month co-CEO Sanjay Jha will lead the handset and set-top-box part.

Motorola, based in Schaumburg, fell 14 cents to $6.87 at 4 p.m. in New York Stock Exchange composite trading. The shares dropped lost 11 percent this year. Technitrol gained 7 cents to $4.45.

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