Icahn Gains Two Board Seats in Deal With Parts Maker Dana (1)

Carl Icahn has reached an agreement with auto supplier Dana Inc. that gives the activist investor two seats on the board.

Dana will temporarily expand its board to 12 members to make room for Icahn’s directors -- his son Brett Icahn and Gary Hu-- and the previously announced appointment of Ernesto Hernandez. After the company’s annual meeting, Raymond Mabus will be retiring and the size of the board will be reduced to 11, Dana said Friday in a statement.

“Dana has made significant advancements as a forward-thinking mobility company, and we appreciate Icahn Capital’s support and constructive ...