Hertz, Icahn ink deal

NAPLES — Activist investor Carl Icahn sealed a deal for three seats on the nine-member board of directors of car-rental giant Hertz.

The move will give Icahn, who controls 8.48% of the shares of Hertz, a hand in picking the company's next CEO. Chairman and CEO Mark Frissora resigned last week under pressure from investors after lapses in accounting and operations.

“This is a great outcome for Hertz and its shareholders and I thank the Hertz board for taking this important step in putting the company back on track,” says Icahn, in a statement. “I'm confident our designees will quickly prove their value to the board and the company, as they have done on numerous occasions in the past in creating value for all shareholders.”