Icahn calls resignation of Motorola CEO Zander a 'positive step' |
|
|
|
Published
:
Fri, 30 Nov 2007 21:50
|
SAN FRANCISCO (Thomson Financial) - Billionaire Investor Carl Icahn on Friday call the planned resignation of Motorola Inc. Chief Executive Edward Zander a 'positive step,' and urged the mobile phone giant to split into separate companies.'As I said at Motorola's shareholder's meeting last year, although I like Ed Zander personally, I never thought that he was the right man for the job at Motorola,' Icahn said in a statement. 'Further, I believe that the steps announced today do not even begin to address the major problems at Motorola.'Icahn said Schaumburg, Ill.-based Motorola should be split into separate companies: 'a mobile devices company; an enterprise mobility company; a connected home company; and a company focused on mobile networks infrastructure.'Icahn, who holds more than a 5% stake in Motorola, said he still believes Motorola has great potential, but that it requires a complete restructuring.Shares of Motorola rose 1.8% to $15.93.Gabriel Madwaygm/khCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
|
|
|
|
|
|
Print this Story
New Motorola campaign a possibility, activist investor Icahn says 