Motorola Names Sanjay Jha co-CEO, No Worries NowPublic, its not our Sanjay!

Brown was also named CEO of Motorola's Broadband Mobility Solutions unit, which consists of the Home & Networks Mobility and Enterprise Mobility Solutions businesses. Brown and Jha will share responsibility for Motorola as it moves towards separating into two independent, publicly-traded companies.

Brown first mentioned spinning off the struggling handset unit shortly after taking over for former CEO Ed Zander in January. Billionaire investor Carl Icahn, who unsuccessfully tried to gain a seat on the Motorola board in 2007, has been pressuring the company to dump its handset division for more than a year.

To avoid a proxy fight with Icahn, Motorola's single largest shareholder, the company agreed to seat two Icahn associates on the board and to seek input from Icahn about the future of Motorola's mobile phone division. The agreement also dismisses all litigation between Icahn and Motorola.

"As co-CEOs, Greg and Sanjay will build on the significant changes and solid progress achieved at Motorola and the Mobile Devices business under Greg's leadership during the last seven months," David Dorman, chairman of Motorola's board, said in a statement. "I believe this is the right structure with the right leaders to provide the necessary management focus and agility to position both businesses for long term success."