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Article

Title: 'Fast Eddie' Rings the Changes

Author: Taylor, Paul Article Type: Company
Source: Financial Times, p22(1) Publication Date: May 7, 2007
URL of Publication: http://www.ft.com

Ed Zander, chairman and CEO of Motorola, wanted to reenergize Motorola and challenge Nokia to become the worlds largest mobile phone maker. However, he will soon have to ask shareholders at the annual meeting to reject a bid by Carl Icahn, billionaire Wall Street investor and now a shareholder activist, to obtain a seat on the Motorola board. Mr. Icahn paid $1.2 billion since January to acquire a 2.9 percent stake in Motorola after a mobile phone price war and lack of 3G handsets resulted in a precipitous margin decline and first-quarter loss. Mr. Zander had taken measures to address Motorola's problems, but now says mistakes were made. Mr. Icahn has accused the Motorola board of being too passive and for failing to guide Mr. Zander and the management team successfully. Tom Meredith, acting CFO of Motorola, worked with Zander at Sun Microsystems and says hes not the best diplomat, but is collaborative and inclusive. He inspires people with his energy and vision, and at Motorola he created the seamless connectivity vision that works to deliver inventive products and services for information access anytime, anywhere, on any device. Mr. Zander is certain he will get Motorola's loss-plagued mobile phone business back on track by the fourth quarter.

Companies:
Motorola Inc

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