8-KOther Events

Motorola Solutions, Inc. 8-K Report (Apr 3, 2003)

Filed April 3, 2003For Securities:MSI

Summary

This 8-K filing from Motorola, Inc. reports a change in its Board of Directors. Francesco Caio, a director since 2000, has informed the company that he will not seek re-election at the upcoming Annual Meeting of Stockholders on May 5, 2003. Mr. Caio's decision stems from his recent appointment as Chief Executive Officer of Cable and Wireless plc, an announcement made on April 3, 2003. His departure from the board is to allow him to concentrate fully on his new leadership role at Cable & Wireless. Motorola anticipates that the number of directors to be elected at the annual meeting will be reduced to 12, reflecting Mr. Caio's decision. Investors should note this change in board composition and understand it is due to the executive's new, demanding responsibilities rather than any performance-related issues.

Key Highlights

  • 1Francesco Caio will not stand for re-election to the Motorola Board of Directors.
  • 2Mr. Caio has been a director since the year 2000.
  • 3The decision is attributed to Mr. Caio's new role as CEO of Cable and Wireless plc.
  • 4Mr. Caio wishes to dedicate his full attention to his new CEO position.
  • 5Motorola's Annual Meeting of Stockholders is scheduled for May 5, 2003.
  • 6The company currently plans to elect 12 directors at the upcoming annual meeting.
  • 7Proxy statements and meeting materials were mailed to stockholders on March 27, 2003.

Frequently Asked Questions

Francesco Caio is not standing for re-election to the Motorola Board of Directors because he has been appointed the new Chief Executive Officer of Cable and Wireless plc and wishes to focus his full energy and attention on this new role.

The change will take effect at Motorola's Annual Meeting of Stockholders, which is scheduled for May 5, 2003. Mr. Caio will not be re-elected at this meeting.

Yes, Motorola currently contemplates that the number of directors to be elected at the 2003 Annual Meeting will be 12, a reduction from the previous number, reflecting Mr. Caio's decision not to stand for re-election.

Based on the filing, Mr. Caio's decision is solely due to his new, demanding executive position at Cable and Wireless plc, and there is no indication of negative performance issues at Motorola being a factor.