Motorola Mobility Director Resigns Following Google?s Big Plans

Motorola Mobility Holdings director William Hambrecht, an appointee of billionaire investor Carl Icahn, has resigned, leaving the mobile-device company with nine directors.

Hambrecht, 76, who was the co-founder of the former investment bank Hambrecht & Quist, was named along with three others to the former Motorola Inc. board by Icahn in 2008.

The departure came just two days after Motorola Mobility revealed Google’s plans to acquire the company in a deal worth nearly $12.5 billion. Motorola said the resignation was effective soon after.

"Bill played an instrumental role in the separation of Motorola into two independent publicly traded companies, as well as in our recent milestone transaction with Google," said Motorola Mobility Chief Executive Sanjay Jha. "On behalf of the entire board of directors, I wish Bill only the best."

Hambrecht, in a statement reported by The Wall Street Journal, said he was delighted with the Google transaction and is looking forward to reaping benefits from it.