UPDATE 1-Activist investor Icahn calls for Motorola breakup

(Adds Icahn quotes, background details, share data)

NEW YORK, Nov 30 (Reuters) - Activist investor Carl Icahn welcomed the replacement of Ed Zander as CEO of Motorola Inc (MOT.N) on Friday but said there was much more to do and called for a break-up of the world's third-largest cell phone maker.

"In my opinion, Motorola should be split into separate companies: a mobile devices company; an enterprise mobility company; a connected home company; and a company focused on mobile networks infrastructure," said the billionaire investor, who holds about 3 percent of the company.

Icahn, who failed to win a seat on Motorola's board in May after a bitter battle, said in a statement the changes revealed on Friday were not enough to address "major problems" at the company, which also makes set-top boxes and network equipment.

"The best opportunity for the mobile devices' business to attract top flight management and to prosper and grow is to establish it as a stand alone business," he said.

Motorola announced on Friday that Zander, who was chief executive for four years, would be replaced by Greg Brown, currently chief operating officer.

"Although I like Ed Zander personally, I never thought that he was the right man for the job," Icahn said.

The investor and his affiliated companies held 60.5 million shares in Motorola and was its sixth-largest shareholder on Sept. 30, according to Thomson Financial analytics.

Motorola declined to comment on Icahn's statement.

Motorola has a market capitalization of $36.5 billion based on Friday's closing share price of $15.97 and a share count of 2.284 billion shares, according to Reuters data. (Reporting by Sinead Carew and Dane Hamilton; editing by Andre Grenon and Braden Reddall)