Icahn Enterprises L.P. (NASDAQ: IEP) announced Ted Papapostolou has been promoted from Chief Financial Officer to President and Chief Executive Officer, effective immediately.

Papapostolou has served as CFO since November 2021 and has been a board member since December 2021. He joined Icahn Enterprises in March 2007 and held various accounting positions before becoming Chief Accounting Officer in April 2020. Prior to joining the company, he worked at Grant Thornton LLP in their audit practice.

The promotion follows the resignation of Andrew Teno as President and CEO and as a board member. According to the press release, Teno is departing to relocate with his family to another state and pursue opportunities closer to his new home. The company stated his resignation was not due to any disagreement with Icahn Enterprises.

"I am honored and grateful to have spent the last five years working with, and learning from, the inventor and master of activism," Teno said in the announcement.

Chairman Carl C. Icahn commented: "I want to thank Andrew for his many contributions over the past six years and wish him well in his future endeavors."

Robert Flint has been promoted to Chief Financial Officer, succeeding Papapostolou in that role, and was appointed to the board of directors. Flint has served as Chief Accounting Officer since December 2023 and will continue in that position. He previously held the role of Director of Accounting since November 2021 and served as Chief Audit Executive from March 2020 to November 2021.

Icahn Enterprises is a diversified holding company engaged in seven business segments: Investment, Energy, Automotive, Food Packaging, Real Estate, Home Fashion and Pharma.