customers of the phones and telecom companies with wireless gear. A reorganization of Motorola's business divisions became likely. Zander wanted to see new types of products that focused on melding Internet technologies with wireless phone technologies. He established the philosophy of "seamless mobility" to integrate Motorola's products and create a sense of unity within the company. After Motorola posted a $181 million loss for the first quarter of 2007, Zander came under increased pressure, with Carl Icahn first demanding a share buyback, then a seat on the board of directors. Zander has since been named a defendant in a securities fraud class action, on behalf of investors who purchased Motorola stock between July 19, 2006 and January 4, 2007, as a result of allegedly false and misleading public statements issued by Motorola during that time. Zander received $12.5 million in incentive-based pay, much of it dependent on Motorola's financial results, as well as $1.5 million in salary during 2006. Zander capitalized on the success of the Motorola RAZR too long and was slow adopting 3G. The company lost market share to Samsung and LG Electronics. By 2007, without new cellphones that carriers wanted to offer, Motorola sold tens of millions of Razrs and their offshoots by slashing prices, causing margins to collapse in the process. Under Zander, Ron Garriques (who was responsible for the successful RAZR) departed for Dell Inc., while Stu Reed failed to turn around the struggling mobile handset division. Only after Sanjay Jha took the reins of Motorola's Mobile Devices Unit did it finally managed to right itself. In January 2007, he rode a yellow bike onto the stage in Las Vegas for his keynote speech at the Consumer Electronics Show. Instead of developing new and exciting products, Motorola placed Razrs into colored lingerie (red in February for Valentine's Day) while Apple Inc. unveiled the revolutionary new iPhone. Ed Zander “inspired” Steve Jobs with Moto's multimedia (e.g., iTune) + smartphone product concept. In result, Apple gained new product concept which was named "iPhone" while Motorola ironically walked away with limited version of iTunes app for Rokr/Slvr. Zander stepped down as CEO on 1 January 2008, succeeded by Greg Brown, who was prior to then President and Chief Operating Officer. He was succeeded as chairman by former AT&T CEO David Dorman in May 2008. References External links Ed Zander bio—note that this source incorrectly describes his promotion to