Motorola's Robert Galvin to Leave Board
Robert Galvin, Motorola Inc.'s legendary former chairman, plans to resign this spring from the board, marking an end to his more than 60-year reign at the technology and equipment giant.</br></br>Mr. Galvin's departure comes at a time when his son, Motorola Chief Executive Christopher Galvin, is under tremendous pressure to prove his management mettle in what is turning into one of the most challenging chapters in Motorola's 73-year history. The elder Mr. Galvin has been a staunch supporter of his son's efforts to turn the company around.</br></br>The Schaumburg, Ill., firm Friday warned that a severe slump in orders and sales could result in the company's first quarterly loss in 16 years. It was the second earnings warning issued during the past six weeks.</br></br>Motorola blamed the decrease in orders on the slowing economy, but it also is clear that the company has made a number of missteps that have contributed to its problems.</br></br>Alarmed investors drove down shares of Motorola more than 6%, or $1.04, to $16.25 as of 4 p.m. Friday in New York Stock Exchange composite trading.