Navistar Appoints Icahn Capital Exec to Board
Navistar International Corp. announced Samuel J. Merksamer, managing director at Icahn Capital LP, has been appointed to the company’s board. According to a news release, he replaces Diane Gulyas, who retired after serving three years as a board member.
Merksamer’s appointment to the board and Gulyas’s retirement are effective Dec. 10, maintaining the total number of Navistar board members at 10, nine of whom are independent.
The appointment of Merksamer represents the third board member appointment pursuant to the agreement the company entered into with Icahn Partners and MHR Fund Management LLC. Merksamer will stand for election at the company’s 2013 annual shareholders meeting.
“We welcome Sam to the board and we look forward to his insights as we continue to execute on our plan to drive long-term profitability and deliver shareholder value,” said Lewis B. Campbell, Navistar’s chairman and CEO. “On behalf of the board, I would also like to thank Diane for her contributions and service to Navistar during her time as a director.”
Merksamer is a managing director at Icahn Capital LP, where he has served since 2008.