February 6, 2014 / 2:45 PM / in 4 years

UPDATE 1- Icahn Enterprises names Cozza as new chief executive

Feb 6 (Reuters) - Icahn Enterprises L.P., activist investor Carl Icahn’s publicly traded investment vehicle, said on Thursday that Keith Cozza will take over as president and chief executive officer, replacing Daniel Ninivaggi.

Cozza, currently a director of Icahn Enterprises, was appointed to the roles effective Wednesday. Ninivaggi will become the co-chief executive of Federal-Mogul Corp., a subsidiary of Icahn Enterprises.

Icahn was not immediately available for comment.

Cozza has been with Icahn Enterprises for 10 years, and was recently chief operating officer of Icahn Capital LP, the subsidiary of the firm through which Icahn manages investment funds.

Icahn, chairman of Icahn Enterprises, is known for taking large stakes in companies and pushing for management changes. He has most recently waged a public campaign to get Apple to return more cash to shareholders.

Icahn, who has a stake in Apple of more than $4 billion, has filed a resolution proposing that it give back $50 billion more through share buybacks.

Cozza is also a director on the board of Herbalife Ltd , a nutritional products company in which Icahn owned a 16.8 percent stake as of Sept. 30, making Icahn the company’s biggest shareholder according to regulatory filings.

Icahn Enterprises L.P.’s stock price rose about 145 percent last year.

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