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

Southwest Fuel (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 Fuel (SWX) President and CEO John Hester can be changed by present Government VP Karen Haller, efficient instantly.

Haller can 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 appropriate 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 purchase Questar Pipelines from Dominion Power.