Carl Icahn Resigns From American Railcar Board

Carl Icahn has resigned from American Railcar Industries Inc.’s board of directors, and a statement from the manufacturing company based in St. Charles said the decision “was not a result of any disagreement.” Icahn, who had been the board’s chairman since 1994, controls 55.7 percent of Railcar’s outstanding shares, worth about $834.5 million.

The company’s board elected a new board member to fill the vacancy and appointed SungHwan Cho, a director of the company since 2011, to serve as chairman. An activist investor, Icahn has recently been pushing for the sale of Family Dollar Stores, in which he owns a substantial stake.

Read more from the St. Louis Business Journal

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