Motorola Chairman, CEO Galvin Resigns

Christopher Galvin resigned as chairman and chief executive of struggling Motorola Inc., ending an often-rocky six years at the helm of the telecommunications giant his grandfather founded.

Galvin, 53, cited differences with the board over the slow progress of the fledgling turnaround at Motorola, the world’s No. 2 cell phone manufacturer and a top semiconductor maker. He told the board he would remain until a successor is found, Motorola said in an unexpected, late-afternoon announcement.

Motorola’s stock jumped to $11.65 in after-hours trading after closing the regular session down 4 cents at $11.09 on the New York Stock Exchange.

The Schaumburg, Ill.-based company has been struggling to regain its past dominance, with its recovery stalled by sluggish demand industrywide.

Galvin has held the two top posts since 1997 and has been with Motorola for 36 years.