Calling Motorola Inc.’s board “passive and reactive,” billionaire investor Carl Icahn on Friday asked the cell phone maker’s shareholders to support his campaign to win a seat on the company’s board.
Icahn, who earlier this year began accumulating shares in the Schaumburg, Ill.-based cell phone maker, made his comments in a letter to shareholders filed with the Securities and Exchange Commission Friday. He said he had hoped to be given a seat on the board without a fight but was resorting to a proxy battle because he did not believe the company’s current management had been aggressive enough in reversing a slide in its business.
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