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New Motorola CFO Has Long Record

When David Devonshire was the CFO at Ingersoll-Rand Co. in the late 1990s, he was a key participant in the manufacturing company's effort to restructure ...

By Staff Writer | Updated on May 01, 2002

When David Devonshire was the CFO at Ingersoll-Rand Co. in the late 1990s, he was a key participant in the manufacturing company’s effort to restructure its business so it would be less cyclical. When he was at Owens Corning, he had to deal with a slew of asbestos-related lawsuits.

As the new CFO of wireless giant Motorola Inc., the 56-year-old Devonshire also has his work cut out for him: Schaumburg, Ill.-based Motorola has been buffeted by the tech-sector implosion, posting a $3.9 billion loss in 2001–its first in 71 years. On top of that, the company has lost its dominance in the cellular-phone market to Nokia Corp., thanks to a series of missteps in its phone product lineup.

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