Activist investor Carl C. Icahn has stepped up his campaign to get a seat on the board of Motorola, taking out a full-page ad in the Wall Street Journal yesterday, claiming that Motorola, “the world’s second-biggest maker of mobile phones, after Nokia, has “stumbled badly” under the leadership of Edward J. Zander, its chief executive…”I am convinced that significant stockholder representation in the Motorola boardroom, even by a single director, is absolutely necessary at this troubled company”, reports the New York Times. The ad was in the form of a letter to shareholders, which is matched by letters sent by Motorola to its shareholders opposing Icahn’s appointment to the board saying “he lacked technology experience and had no plan for improving the performance of the company’s phone unit”. The proxy battle takes place on Monday.
Subscriber content
?
Subscriber content comes from Gigaom Research, bridging the gap between breaking news and long-tail research. Visit any of our reports to learn more and subscribe.
Advertisement
Advertisement
Advertisement
Comments have been disabled for this post