SCHAUMBURG, Ill. (AP) -- Motorola Inc. has named Daniel M. Moloney president of its Motorola Mobility business, the cell phone unit it plans to spin off early next year, the company said on Monday.
Moloney will help prepare the business for its launch as a publicly traded company, Motorola said. He will start his new role on Sept. 1 and report to Motorola Co-CEO Sanjay Jha.
Moloney had previously served as president and CEO of electronic component manufacturer Technitrol. Earlier, he was executive vice president at Motorola and served as president of the company's Home and Networks Mobility business.
Motorola is planning to spin off the cell phone unit as Motorola Mobility early next year, along with the unit that makes cable set-top boxes. The rest of the company, which makes police radios and bar code scanners, will be called Motorola Solutions. Last month, Motorola agreed to sell its networks equipment business to Nokia Siemens Networks for $1.2 billion.
Shares of Motorola climbed 16 cents, or 2.1 percent, to $7.65 in afternoon trading.