WASHINGTON (dpa-AFX) - Crown Holdings, Inc. (CCK) announced Tuesday that it has entered into an agreement with Icahn Enterprises L.P., whereby Jesse Lynn and Andrew Teno, General Counsel of Icahn Enterprises and Portfolio Manager of Icahn Capital, respectively, will join the Company's Board of Directors, effective immediately.
Lynn and Teno will also stand for election at the Company's upcoming 2023 Annual Meeting of Shareholders, and Crown has agreed to include Teno and Lynn on its recommended slate of nominees for election at the Company's 2023 AGM.
With the additions of Lynn and Teno, the Crown Board will expand to 13 directors, 12 of whom are independent.
Pursuant to the Director Appointment and Nomination Agreement, Icahn Enterprises, which owns 8.5 percent of Crown's outstanding common stock, has agreed to customary standstill, voting commitments and other provisions.
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