My comment..Motorola has not been burdened with "Guru stockholders"..and Hired guns with an Agenda that is in conflict with stockholder appreciation..
Conversation with Ed Zander, COB and CEO
Q. Ed, you became chairman and chief executive officer of Motorola at the beginning of 2004. Can you share with us what global corporate citizenship means to you?
EZ. To me, corporate citizenship is a broad concept that encompasses the responsibility we have to our many stakeholders. It means the company’s products and services create value for our customers and contribute to the well-being of society. It means we operate using ethical business practices and expect the same from our suppliers and partners. It means we minimize the environmental impact of our facilities and products. It means we provide jobs, pay taxes and make a profit, as well as support philanthropy and community involvement. It means we treat our employees with respect and are a good neighbor to the people next door as well as those half a world away.
Motorola has a terrific heritage of good citizenship. Before I agreed to take the position of CEO, I read a copy of Motorola’s 2002 Global Corporate Citizenship Report. I was impressed with the objectives,commitments and progress that the company has made over the past few years – all in spite of extremely difficult business conditions. It’s during times of hardship that people can see whether global corporate citizenship is really important to a company or just window dressing. Motorola passed the test. As we develop a clear vision for our business and execute better, I think that Motorola can become an even stronger global citizen in the future.
Q. How does Motorola balance economic performance with social and environmental performance?
EZ. Strong economic performance and good social and environmental performance are not mutually exclusive. In fact, I believe that good corporate citizenship improves our bottom line. It’s not surprising that many analysts and investors are paying closer attention to a company’s corporate citizenship efforts for purely fiduciary reasons. Firms with solid citizenship records and a real commitment to corporate responsibility are arguably more sustainable, better managed and, therefore, better long-term investments.
Q. Over the last few years, we’ve seen companies continue to struggle with governance issues – particularly in the telecommunications sector. What is Motorola doing to guarantee transparency and accountability?
EZ. Integrity is critical. Corporate governance was one of the first things I considered before accepting this job. Particularly now, when my name is on the financial reports, it’s something I scrutinize. But even before corporate governance scandals started hitting the news nationwide in 2000, our board of directors had been strengthening our practices. Of our 11 directors, nine are independent. Directors must accept half their fees in the form of Motorola stock. Every five years we conduct what we call a no-fault review, where the board evaluates the needs and interests of the company, and board members are afforded an opportunity to step down, if appropriate. If you would like additional information, I encourage you to visit the investor relations portion of our Web site, where you can access the section on corporate management and governance.
Q. Motorola once had a reputation for being a great place to work. Given the challenges in recent years with downsizing, is this still true and how do you respond to employee concerns?
EZ. We’ve had the challenge, like other tech companies, of having to downsize to ensure our competitiveness. In these situations, Motorola has treated individuals with respect and provided severance assistance, extended medical coverage and professional outplacement services. Motorola has also divested business units and made these transactions contingent on the acquiring company’s commitment to maintaining the affected employees’status and fringe benefits through the transition period and beyond. It’s clear Motorola has come through a challenging time. But it’s important to note that our commitment to our people has never wavered. And, I know if you asked our people around the world, you’d find an air of real optimism right now that we’ve turned a corner and things are getting better.
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