Carl Icahn seeking a boardroom seat at Motorola

Carl Icahn seeking a boardroom seat at Motorola

US based mobile phone maker Motorola has said that the billionaire investor Carl Icahn was seeking a boardroom seat at the company.

The company is the world’s second largest maker of mobile phones after Nokia and just recently reported a disappointing revenue report.

Motorola had also recently announced plans to cut 3,500 jobs as they aim to slash cost to get back to profitability.

This news helped the company improve its share price at the stock exchange as the share price went up by around 6.2 percent.

Icahn-controlled entities have around 1.39 percent of the outstanding total of Motorola Shares and he has expressed his desire to seek a nomination on the board during the next annual general meeting.

Motorola said that they are currently considering this nomination bid.