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Southwest Fuel (NYSE:SWX) stated Friday evening that it reached a settlement agreement with Carl Icahn, permitting the activist investor to call as much as 4 administrators to its board.
Southwest Fuel (SWX) President and CEO John Hester will be replaced by present Government 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 fitting to call a fourth if Southwest Fuel (SWX) fails to spin off Centuri Group inside 90 days.
Icahn started his combat with Southwest Fuel in October, when he opposed the corporate’s deliberate $2B deal to buy Questar Pipelines from Dominion Energy.