Crown Holdings has entered into an agreement with Icahn Enterprises whereby Jesse Lynn and Andrew Teno, General Counsel of Icahn Enterprises and Portfolio Manager of Icahn Capital, respectively, will join the company’s Board of Directors, effective immediately. Lynn and Teno will also stand for election at the company’s upcoming 2023 Annual Meeting of Shareholders and Crown has agreed to include Teno and Lynn on its recommended slate of nominees for election at the company’s 2023 AGM. With the additions of Lynn and Teno, the Crown Board will expand to 13 directors, 12 of whom are independent. Pursuant to the Director Appointment and Nomination Agreement, Icahn Enterprises, which owns 8.5% percent of Crown’s outstanding common stock, has agreed to customary standstill, voting commitments and other provisions. Jesse Lynn has been general counsel of Icahn Enterprises since 2014. From 2004 to 2014, Lynn was Assistant General Counsel of Icahn Enterprises. Lynn has been a director of Xerox since November 2021; FirstEnergy since March 2021; and Conduent since April 2019. Andrew Teno has been a portfolio manager of Icahn Capital LP, the investment management subsidiary of Icahn Enterprises, since October 2020. Teno has been a director of Southwest Gas since May 2022; FirstEnergy since March 2021; and Herc Holdings since February 2021.
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