Motorola has named Paul Liska as its new Chief Financial Officer (CFO), a man reported to have a reputation for cost cutting and a background in private equity. Mr Liska succeeds Tom Meredith, a Motorola director who served as interim CFO. In the last few months Motorola has laid off 7,500 workers, planned another US$500 million in expense cuts, and built some of its other businesses which supply equipment to the cable industry and two-way radios to emergency workers. The manufacturer hasn’t, however, stemmed a decline in mobile phone sales. The recent performance of its mobile phone division led Motorola CEO Greg Brown last month to state the company is considering spinning off its handset unit.

According to a Wall Street Journal report, Mr Liska has known Greg Brown for a decade and worked for a series of private-equity firms, most recently Ripplewood Holdings LLC of New York. As CFO of Sears Roebuck & Co., the report states he helped negotiate the 2003 sale of its large credit-card business to Citigroup Inc. for about US$3 billion. Mr. Liska takes his new job March 1. In a statement, Mr Brown said Mr Meredith will continue on the Board.