Attention eBay: Uncle Carl can be all sweetness and light, if you just do what he tells you to do. It might also help if you could get Bill Ackman to short your stock.

The besieged health supplements company said on Monday that it had renegotiated its agreement with Carl C. Icahn, allowing its biggest shareholder three additional seats on the board, which would bring his representation to five seats….

Herbalife will nominate Hunter C. Gary, Jesse A. Lynn and James L. Nelson for election to its 13-member board at its annual meeting in Los Angeles on April 29. Mr. Gary and Mr. Lynn are employees of Icahn Enterprises, while Mr. Nelson is an independent director of Icahn Enterprises.

Icahn to Get 3 Additional Seats on Herbalife Board [DealBook]

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  1. Posted by Guest | March 24, 2014 at 5:41 PM

    So if he recruits 3 new friends and they each recruit 3 new friends and those friends each recruit 3 new friends and so on and they all buy a herbalife mint chocolate protein shake, then the company's in business.

  2. Posted by Guest | March 24, 2014 at 5:58 PM

    16% stake = 40% of the board

    makes sense.

  3. Posted by GSelevator | March 25, 2014 at 9:39 AM

    100% stake = 100% of the board? sounds like a unbiased board..