Telecom & Wireless

Motorola Needs Icahn

Institutional Shareholder Services, proxy advisory service, thinks that flagging cell phone and telecom equipment company Motorola (MOT) needs Carl Icahn on its board. He owns just shy of 3% of the shares.

The WSJ quotes ISS as saying: "Although long-term historical picture is more favorable, the significant near-term deterioration argues for a new perspective on the board." Motorola argues that Icahn has no tech background, but neither do several other board members.

Given what Mr. Icahn has done for shareholders at other companies including Time Warner (TWX) and MedImmune (MEDI), Motorola CEO Ed Zander and the board should put Icahn on. (MOT stock is up 2% on the ISS news.)

They have nothing to lose but their jobs.

Douglas A. McIntyre

 

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.

AI Portfolio

Discover Our Top AI Stocks

Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.

You can follow him investing $500,000 of his own money on our top AI stocks for free.