Two Icahn Nominees Quietly Added to Herbalife (HLF) Board; No New Auditor Named

April 25, 2013 3:37 PM EDT
Herbalife (NYSE: HLF) is trimming some gains sustained earlier following news that it appointed two new board members.

In a release today, Herbalife said Jonathan Christodoro and Keith Cozza were elected to the company's Board of Directors as Class II directors. The company noted that, "as part of an agreement with Carl C. Icahn, Icahn Enterprises Holdings L.P. and certain related entities, Herbalife agreed to nominate two individuals to the Company's Board of Directors, designated by the Icahn Parties and approved by the Company's Nominating and Corporate Governance Committee. Messrs. Christodoro and Cozza are representatives of the Icahn Parties."

Herbalife held a quick annual meeting earlier, with about 50 in attendance. The only question asked (in written form, as is customary at the meetings), was the plan surrounding the hiring of another auditor. No announcement was made on the matter, save for the company continuing to search and evaluate other firms.

Shares are up 1.6 percent on the session. The firm will be releasing quarterly results after markets close on Monday, April 29, 2013. The Street consensus calls for EPS of $1.00 on revs of $1.11 billion, versus EPS of 88 cents and revs of $1.12 billion reported in the same period last year.

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