Caesars Entertainment (CZR) said Tuesday it is adding two new independent directors to its board following an agreement with Icahn Enterprises (IEP).
Icahn's general counsel Jesse Lynn and chief financial officer Ted Papapostolou will join Caesars' board, effective immediately, subject to regulatory clearance, Caesars said.
"We look forward to working with [Caesars Chief Executive Tom Reeg] and the board to maximize value for all shareholders, including by exploring strategic alternatives for the company's underappreciated digital business," Carl Icahn said.
With the two additions, Caesars' board will have 12 directors, 10 of whom are independent, the company said.
Price: 28.13, Change: +0.05, Percent Change: +0.18
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.