Navistar settles with Icahn, Rachesky
Oct 8 (Reuters) - Navistar International Corp agreed to appoint three new members to its board, preventing a proxy fight with activist investors Carl Icahn and Mark Rachesky.
The U.S. truck and engine maker said Vincent Intrieri, an Icahn nominee, and Rachesky have been named to the board.
A third director will be designated and mutually agreed upon
by Rachesky and Icahn.
Icahn and Rachesky each own a 14.94 percent stake in the company, tying them as its second-largest investors.
(Reporting by A. Ananthalakshmi in Bangalore; Editing by Saumyadeb Chakrabarty)
Keywords: NAVISTARINTERNATIONAL BOARD/