'Carl Icahn Reduces FirstEnergy Stake, Gives Up Board Seat' - Bloomberg News
Benzinga Newsdesk 2 years ago
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https://www.bloomberg.com/news/articles/2023-12-11/carl-icahn-reduces-firstenergy-stake-gives-up-board-seat?utm_source=google&utm_medium=bd&cmpId=googleActivist investor Carl Icahn cut his position in FirstEnergy
Activist investor Carl Icahn cut his position in FirstEnergy Corp., the Ohio utility owner that has been embroiled in a federal corruption scandal, and relinquished a board seat he controlled.
The Icahn Group has trimmed its stock holdings in FirstEnergy below the 1.5% threshold that entitled the billionaire investor's firm to hold board seats under an agreement between the companies, according to a filing. Andrew Teno, a portfolio manager at the investment firm, resigned from the board on Friday, according to the filing. Icahn Group declined to comment.