Icahn Gains Support In Bid For Motorola Board

Carl Icahn is gaining some support from institutional shareholders that could see him land a seat on Motorola’s board at the company’s annual general meeting next week, reports RCR News. Icahn wants a seat on the board to “step up pressure on Zander to fix the company’s problems, prod Motorola’s board to be more active and force management changes at upper levels” according to one Motorola investor. It seems a little unclear what he plans to achieve — he hasn’t announced an intention of any sweeping changes to the company. “He’s got to get under the hood,” said John Krause, senior equity research analyst at Thrivent Asset Management in Appleton, Wis. “He’ll try to drive more efficient operations, take some costs out and limit acquisitions in non-key areas.” It could be that limiting costs will help Motorola, which perhaps became a little too complacent after the success of the Razr.

Comments have been disabled for this post