Motorola is attempting to salve its leaky finances with another executive shuffle, this time replacing Chief Financial Officer Tom Meredith – who since March 2007 has led the company in a variety of tough cash-cutting directions – with ex-Sears CFO Paul Liska.  Despite surprise from many who expected an internal promotion, the company will obviously be hoping that Liska’s most recent background as a partner in private-equity firms will give him the resolve and business sense to turn the beleaguered Motorola’s fortunes around.

Motorola’s fourth-quarter profit fell 84-percent while handset sales dropped 38-percent, prompting suggestions from company execs that they could spin-off (e.g. sell) the under-performing cellphone business.  The news prompted a number of snubs from rival firms expressing their lack of interest in the well-known brand.

Meredith will remain on the Motorola board, and the company is keen to make clear that his replacement was always on the cards; his position as CFO was always intended to be an interim measure from March last year to March this year, giving the Motorola the opportunity to find a long-term replacement.  He will begin a transition period with Paul Liska from March 1st.