Icahn Enterprises (IEP) has released an update.
On February 21, 2024, Andrew J. Teno was announced as the new President and CEO of a prominent company, replacing David Willetts, who stepped down without any operational disagreements. Teno brings a wealth of experience from Icahn Capital LP and has held director roles at Southwest Gas Holdings and Illumina, Inc. His new employment agreement, effective until 2028, includes an annual salary “draw” against future NAV Incentive earnings, with a potential maximum NAV Incentive of $50 million, subject to adjustments. This strategic leadership change promises a fresh direction for investors and market watchers.
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