Biz people: D-Day looms in Icahn's battle

Shareholder activist Carl Icahn (right) is gaining support for his campaign to win a seat on Motorola Inc's board as his three-month battle with Chief Executive Officer Ed Zander draws to a conclusion today.

Shareholders including Legg Mason Inc's ClearBridge Advisors and Kelmoore Investment Co will vote for Icahn at Motorola's annual meeting today in Chicago.

They want him to force the world's second-biggest mobile-phone maker to revive sales and boost its stock price.

The vote may determine the course Motorola will take as it seeks to return to profit and reclaim market share from Nokia and Samsung. Icahn plans to pressure executives to turn around the company and eventually return more cash to shareholders.

Zander says Icahn has no plan for achieving his goals and would use a board seat as a "self- serving platform".

(China Daily 05/08/2007 page16)