Business Services Industry
CEO on Razr's edge with Wall St. Unpleasant surprises sparking restlessness among Moto investors.(Edward Zander)
Crain's Chicago Business, March, 2007 by Strahler, Steven R.
Byline: STEVEN R. STRAHLER AND PAUL MERRION Burned for the second time this year by a revised earnings outlook, institutional investors in Motorola Inc. are looking for quick change-either in Moto's performance or in the CEO suite. Pressure is increasing on Chairman and CEO Edward Zander as corporate raider Carl Icahn fights for a board seat and calls on Motorola to disgorge its $11-billion cash pile to shareholders.
"You wonder whether they've got the right leadership,'' says Larry Wingate, a portfolio manager and strategist at Greensboro, N.C.-based McMillon Capital Management Inc., which owns 125,000 Motorola shares but says it could sell them if the picture doesn't improve soon. "We want to see evidence things are turning.'' Mr. Wingate says...
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