Carl Icahn’s funding agency appoints former GE dealmaker as CEO By Reuters

2/2 © Reuters. FILE PHOTO: Investor Carl Icahn pictured in 2014 2/2 (Reuters) -Billionaire activist investor Carl Icahn’s funding agency on Monday named Normal Electrical (NYSE:) Co veteran and a former dealmaker, Aris Kekedjian, as its president and chief govt officer. Kekedjian, who has labored with GE for about three many years till 2019, will


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© Reuters. FILE PHOTO: Investor Carl Icahn pictured in 2014

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(Reuters) -Billionaire activist investor Carl Icahn’s funding agency on Monday named Normal Electrical (NYSE:) Co veteran and a former dealmaker, Aris Kekedjian, as its president and chief govt officer.

Kekedjian, who has labored with GE for about three many years till 2019, will substitute Icahn Enterprises LP’s CEO Keith Cozza. Cozza, leaving on Could 31, joined Icahn’s funding car in 2004 and took over because the CEO in 2014.

Chief Monetary Officer SungHwan Cho may also be departing, Icahn Enterprises stated, including it was at the moment trying to find a successor.

One of many causes behind the executives’ departure was that they have been unwilling to relocate to Florida, the place Icahn and his agency moved final 12 months. Icahn Enterprises has market capitalisation of greater than $13 billion and investments in vitality, metals and actual property, amongst others.

Icahn deliberate the transfer way back to in 2019 after rising weary of working in New York, Reuters reported on the time, citing folks conversant in the matter.

Kekedjian, credited with taking part in a key function within the $30 billion merger between Normal Electrical’s oil and fuel unit with Baker Hughes in 2016, is seen as an M&A consultant. He was the chief funding officer at GE till 2019. (https://reut.rs/2PDcd1x)

Kekedjian at the moment sits on the board of FinServ Acquisition Corp, a particular objective acquisition firm, his LinkedIn (NYSE:) profile confirmed.

In a separate submitting, Icahn Enterprises stated the incoming CEO can be paid a base wage of $1.5 million per 12 months. (https://

It additionally stated its estimated indicative internet asset worth elevated by about $800 million within the first quarter.

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