Icahn Intensifies Campaign To Win Motorola Board Seat
Activist investor Carl Icahn is stepping up his campaign to get a seat on Motorola's board, according to a report on the Wall Street Journal's Web site on Tuesday.
The Journal cited a letter from Icahn to investors, in which Icahn calls the company "troubled" and likens reported comments by Motorola Chief Executive Ed Zander to "something straight out of Alice in Wonderland." The letter appears in a full-page ad in Tuesday's edition of the paper.
Icahn said in late January he was seeking a board seat at Motorola, which has struggled in recent quarters with weak cell phone sales that caused it to post a first-quarter loss. The Motorola shareholder vote is scheduled for May 7.
A representative for Icahn could not immediately be reached for comment.