Navistar announces agreement to destagger the board to elect directors on an annual basis with investor Carl Icahn

Uploaded by FinancialNewsOnline on Nov 15, 2011

Navistar International announced that it entered into an agreement with investor Carl Icahn and certain of his affiliates to submit a proposal to its shareholders at its 2012 Annual Meeting of Shareholders to destagger the board to elect directors on an annual basis. With this agreement, Icahn agreed not to seek board representation at the company's 2012 Annual Meeting and agreed to vote in favor of the company's nominees for election at the 2012 Annual Meeting.