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Ed Zander has stepped down as CEO of Motorola (MOT), and it was announced immediately that he will be replaced by COO Greg Brown. Zander has been under pressure for the last year over poor earnings and loss of market share.

Brown was just promoted to COO in March, and has been with the company since 2003. Motorola said Brown has no plans to hire a COO to replace him.

A lot of Zander's pressure has come from Carl Icahn, who had bitterly battled for control of the company, although losing the battle. He's even calling for more drastic measures to be taken, like breaking the company up into several parts; one of his usual prescriptions for the companies he invests in.

The four companies Icahn suggests are: "a mobile devices company; an enterprise mobility company; a connected home company; and a company focused on mobile networks infrastructure."

What is being implied in this is Brown may be on a very short time frame to make some big changes or Icahn may ramp up the pressure again quickly.

With Motorola changing its strategy earlier this year, from growing market share at any cost to profitable growth, Brown said he wants to build upon that strategy.

"We've made a number of changes already," Brown said in a phone interview. "It's about building on the ones we've made, continuing on the momentum and accelerating new product roll-out and momentum, particularly in mobile devices, and building on the category leadership in the other businesses."

For Zander's part, he says that it was his decision when to move on, and he and his wife had agreed for him to stay on for a four year stint at the company. Although stepping down as CEO, Zander will remain on as chairman through May, and advise the CEO until January 5, 2009, as a non-officer.

With Zander stepping down before his January 5, 2009 retirement date, he won't receive a severance payment, losing unvested equity. He will still receive a $5.3 million bonus, which has been deferred since when he had come to the company, and also option and restricted stock units that vest before January 5, 2009.

Brown will take over as CEO officially on January 1, 2008.