Word: motorola
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When George Fisher took over Motorola nearly six years ago, the Schaumburg, Illinois-based electronics company had been chased out of the TV business, lost its lead in stereos and surrendered its No. 1 position in computer chips. It was even close to raising the white flag in cellular telephones. Fisher could have taken the well-worn corporate-turnaround path by slashing costs, closing divisions and laying off employees -- all to boost the bottom line, and ultimately Motorola's stock price. Instead he engineered one of the most remarkable transformations in U.S. corporate history, turning Motorola into a worldwide leader...
...done simply by cutting costs. "George Fisher is not just coming in to chop heads," says Michael Geran, an analyst at Pershing & Co. "He's a builder, not a destroyer. He's coming in to reinvent and re-energize the company." That's a challenge his successor at Motorola can gratefully skip...
With customers switching rapidly from films and photographs to electronic imaging, Fisher is expected to focus Kodak on digital forms of pictures that can be stored and transmitted by computer. The chance to rebuild Kodak the same way he revamped Motorola thrills Fisher. "To do that twice in my life, that's a big opportunity." But, he adds, "the first order of work will be to % make sure our financial house is in order." As to his financial house, Fisher, who earned $5 million at Motorola last year, could pocket up to $100 million in salary, bonuses and stock options...
...Motorola Chief to Kodak...
Photographic giant Eastman Kodak successfully wooed George Fisher, chairman of high-tech electronics firm Motorola, to become its new chairman and chief executive officer, effective immediately. Fisher had brilliantly positioned Motorola to compete in the new world of communications, and his move shocked the company's board and employees...