By Katherine Hamilton
Dana has entered an agreement to add two new board members picked by Carl Icahn's company, one of whom is his son Brett.
Brett Icahn and Christian Garcia are set to join the board of the automotive part manufacturer, succeeding two board members who were appointed by Icahn's group in 2022.
In January 2022, Dana agreed to add Icahn Capital portfolio managers Gary Hu and Steven Miller to its board as part of a broader partnership with the company owned by billionaire Carl Icahn. The agreement also included customary voting, standstill and non-disparagement provisions.
The standstill term was updated Thursday, extending it to 30 days before the director nomination deadline for the 2027 annual meeting, as long as Dana meets certain business objectives and completes the appointment of the two new board members.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
January 23, 2025 17:14 ET (22:14 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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