Billionaire investor Carl Icahn has more than doubled his stake in Hertz Global Holdings Inc. after the rental company reported a loss in its third quarter profit.
Hertz Global Holdings Inc. announced that John P. Tague has been appointed president and chief executive officer and to the company's board of directors. Tague previously served as the president and chief operating officer of United Airlines.
Investment activist firm becomes Hertz's second-largest shareholder behind Carl Icahn.
Hertz has appointed three new directors to the Hertz Board of Directors (Vincent J. Intrieri, Samuel Merksamer and Daniel A. Ninivaggi), which were nominated by Carl C. Icahn, Hertz’s largest shareholder.
Hertz plans to add three candidates nominated by Carl C. Icahn, Hertz’s largest shareholder. Icahn has agreed to not run a proxy contest and to vote in favor of the Hertz’s nominees at the annual meeting.
Last Friday, CNBC broke news that investor Carl Icahn might have bought as many as 30 to 40 million shares in Hertz Global Holdings Inc.
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