Carl Icahn Resigns From American Railcar Board

(RTTNews) - American Railcar Industries, Inc. (ARII) said in a regulatory filing Wednesday that Carl Icahn resigned as a member and Chairman of the company's Board of Directors.

Icahn's resignation was not a result of any disagreement with the company or the board, American Railcar said in the filing.

The company said Icahn resigned because he currently serves on several boards of directors and wanted to decrease his number of directorships as a result of certain ISS standards.

American Railcar said its board has elected Courtney Mather to fill the seat vacated by Icahn. Mather has served as a Managing Director of Icahn Capital LP since April. Prior to joining Icahn Capital, he was Managing Director at Goldman Sachs & Co, where he served in various investment roles from 1998 to 2012.

American Railcar's board has appointed SungHwan Cho, a director of the company since 2011, as its Chairman.