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Navistar says it is disappointed by Icahn 'threats'
Sept 10 |
Sept 10 (Reuters) - Navistar International Corp is disappointed by large shareholder Carl Icahn's campaign of "threats, attacks and disruption" and is committed to its plan to cut costs and review possible asset sales, the U.S. truck and engine maker said on Monday.
"Navistar maintains an ongoing dialogue with its shareholders, and appreciates their input and views," the company said in a statement. "As such, after a year of dialogue, we are extremely disappointed that Mr. Icahn has chosen to pursue his unproductive tactics of threats, attacks, and disruption."
Billionaire investor Icahn slammed Navistar on Sunday for naming a new chief executive officer without consulting large shareholders and urged the company to offer four board seats to shareholders immediately.
The Navistar board's recent decision to appoint Lewis Campbell as chairman and interim CEO was "worse than ill-advised," Icahn said in an open letter to the directors.
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