Ed Zander, Motorola’s CEO, has agreed to step down from his post effective January 1. Zander has been with Motorola since January 2004. Motorola has had a tough year and seen sales figures and revenues drop over the last 12 months. The handset division will close out 2007 at a loss. The company recently slipped to the world’s third largest supplier of mobile phones, behind Nokia and Samsung. Some Motorola shareholders have been pushing for a change in leadership. Zander will be replaced by Motorola’s COO Greg Brown. Zander will remain as the chairman of the board until May 2008.