Icahn Enterprises Posts $450M Q1 Loss and Appoints New CEO and CFO
Icahn Enterprises reported a $450 million first-quarter loss with revenue of $2.21 billion and a 71-cent per-share deficit. The partnership promoted Chief Financial Officer Ted Papapostolou to CEO, tapped Chief Accounting Officer Robert Flint as CFO, and saw Andrew Teno resign from the CEO role.
1. Q1 Financial Results
Icahn Enterprises L.P. recorded a net loss of $450 million in the first quarter, translating to a 71-cent loss per unit. Revenue for the period reached $2.21 billion, reflecting the diversified holding company’s performance across its seven business segments.
2. Executive Leadership Changes
Effective May 6, Chief Financial Officer Ted Papapostolou was elevated to President and Chief Executive Officer, while Chief Accounting Officer Robert Flint assumed the CFO role and joined the board. Former CEO Andrew Teno resigned to relocate closer to family, with Carl Icahn expressing gratitude for his six years of service.