Caesars Entertainment Strengthens Board with Two New Icahn-Backed Directors
Caesars Entertainment has expanded its Board of Directors with two new independent members. Jesse Lynn and Ted Papapostolou, both executives at Icahn Enterprises, will now join the company’s leadership. The move follows ongoing collaboration between Caesars and billionaire investor Carl Icahn, a long-time shareholder.
The appointments bring the total number of board members to 12, with 10 classified as independent directors. Jesse Lynn, who serves as General Counsel at Icahn Enterprises, brings expertise in corporate law and governance. Ted Papapostolou, the Chief Financial Officer of Icahn Enterprises, adds financial management experience to the board.
Caesars CEO Tom Reeg welcomed the new directors, highlighting their skills as valuable additions. Carl Icahn, a major shareholder, has previously backed Reeg and the senior management team, expressing confidence in their leadership. Icahn played a significant role in Caesars’ $17.3 billion merger with Eldorado Resorts in 2020.
The agreement between Caesars and Icahn Enterprises includes specific terms on voting commitments and leadership arrangements. These details will be outlined in an upcoming SEC filing. Andrew Teno, who oversees Icahn Enterprises, will manage the partnership with Caesars during this period.
The inclusion of Lynn and Papapostolou aligns with Caesars’ strategy to reinforce its board and enhance shareholder value. The company continues to work closely with Icahn Enterprises, building on a relationship that has shaped key decisions in recent years. Further details on the agreement will be disclosed in regulatory filings.
