Motorola names Qualcomm's COO as CEO of mobile phones division

Motorola hired Qualcomm's former COO, Dr. Sanjay Jha, to become co-CEO of Motorola. Jha will also take on co-executive duties for the parent company along with current CEO Greg Brown, Motorola's existing CEO.

Jha is a respected member of the telecom industry and the news of his new job at Motorola has sent the company's shares up 9 percent today. Qualcomm's shares dropped a bit on the news, but some industry analysts are predicting that Jha's new position at Motorola could mean more business for Qualcomm in the future.