The Hain Celestial Group, a Melville, N.Y.-based natural and organic foods company, has appointed Brett Icahn and David Schechter to its board of directors. The appointments follow an agreement reached between investment funds managed by Carl Icahn, who owns between 10 and 15 percent of the company, according to separate disclosures filed with the Securities and Exchange Commission.
In exchange for adding the directors, the Icahn funds agreed to support Hain's slate of director nominees at its annual meeting. The slate will include Brett Icahn, who is Carl Icahn's son and has worked for the funds since 2002. The slate also includes Schechter, who since 2008 has served as managing director for Icahn Capital, the entity that manages the private investment funds in the Icahn Group.
The company has temporarily increased the number of seats on the Board from ten to twelve. Following the 2010 annual meeting, the size of the board will go back to 10 seats.
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