Icahn reaches deal with Southwest Gas to oust CEO, add up to four directors (NYSE:SWX)

Southwest Gasoline (NYSE:SWX) stated Friday night time that it reached a settlement settlement with Carl Icahn, permitting the activist investor to call as much as 4 administrators to its board.

Southwest Gasoline (SWX) President and CEO John Hester will probably be changed by present Govt VP Karen Haller, efficient instantly.

Haller will probably be appointed to the corporate’s board instantly following the 2022 annual shareholders assembly, which has been rescheduled for Could 19.

The deal requires Icahn to nominate three administrators instantly, with the correct to call a fourth if Southwest Gasoline (SWX) fails to spin off Centuri Group inside 90 days.

Icahn started his battle with Southwest Gasoline in October, when he opposed the corporate’s deliberate $2B deal to purchase Questar Pipelines from Dominion Vitality.