Hertz adding Icahn-backed candidates to its board
NAPLES, Fla. (AP) — Dodging a proxy fight with billionaire Carl Icahn, Hertz is adding three of his chosen candidates to the board.
Two of the new board members, Vincent Intrieri, Samuel Merksamer, will also be part of a of a five-person CEO search committee. Hertz CEO and Chairman Mark Frissora resigned earlier this month for personal reasons.
The announcement follows last week's announcement that the car rental company had reached an agreement-in-principle with the activist investor, who controls about 8.5 percent of its stock.
Also named to the board Tuesday was Daniel Ninivaggi. Directors Henry Wolf, Barry Beracha and Philippe Laffont have retired.
Shares of Hertz Global Holdings Inc. are rising about an hour before the opening bell.