Carl Icahn Files Shareholder Proxy Seeking Seat on Motorola Board

6:30 am on March 14, 2007 | Category: Business, Corporate

corporate.jpg

Billionaire investor and financial activist, Carl Icahn, has filed a proxy statement seeking shareholder support for his nomination to the Motorola board of directors.

Ichan’s nomination to the board would likely mean more money for investors, in the form of a larger share buyback program, out of Motorola’s $11.3 billion in cash reserves. Icahn says he would back a so called “say on pay” proposal giving shareholders more input on an advisory resolution regarding investor compensation.

Icahn stated his desire for a Motorola board seat in Jaunary, and has been largely opposed by the company’s executives. The billionaire investor has been rapidly buying up Motorola stock for several weeks now, giving he and his affiliates a 2.48% share of the company.

Related Articles:

    None Found

    No Comments yet »

    RSS feed for comments on this post.

    Leave a comment

    XHTML: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>


    Published by TeleClick Enterprises
    Edited by Jeremy Maddock