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
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