Billionaire investor (or less affectionately "corporate raider") Carl Icahn is in the telecom headlines again: He plans to buy more shares in Motorola. Icahn already is a leading shareholder in the handset maker. Earlier this week Icahn invested in leading mobile content company, Motricity, and last month Icahn announced his desire for a seat on Motorola's board. At the time Icahn said he wanted to increase the company's $4.4 billion debt level and return more cash to investors.
Well, Icahn may a chance at that board seat: Just today Motorola announced that two of its board members are stepping down. Indra Nooyi and H. Laurance Fuller won't stand for reelection at the company's annual board meeting in May. Nooyi cited her recent appointment as PepsiCo's CEO and chairwoman as the reason for her departure. Fuller, 69, is just one year shy of Motorola's mandatory retirement age and wishes to do just that. All eyes will be on Icahn come May 7.