Icahn Reacts to Replacement of Zander

NEW YORK, /PRNewswire/ -- Carl Icahn commented on the announcement by Motorola, Inc. (NYSE: MOT) that it was replacing Edward J. Zander as Motorola's CEO. Mr. Icahn stated as follows: "I believe that the replacement of Ed Zander as CEO is a positive step for Motorola, but that the action of the Board was long past due. As I said at Motorola's shareholder's meeting last year, although I like Ed Zander personally, I never thought that he was the right man for the job at Motorola. Further, I believe that the steps announced today do not even begin to address the major problems at Motorola. In my opinion, Motorola should be split into separate companies: a mobile devices company; an enterprise mobility company; a connected home company; and a company focused on mobile networks infrastructure. In particular, I believe that the best opportunity for the mobile devices' business to attract top flight management and to prosper and grow is to establish it as a stand alone business." Mr. Icahn further indicated that he continues to believe that Motorola has strong business components and great potential, but that it requires a complete restructuring to achieve that potential.