Reuters: Private Equity: UPDATE 1-CVR Energy reappoints CEO to the board

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UPDATE 1-CVR Energy reappoints CEO to the board May 25th 2012, 12:46 Fri May 25, 2012 8:46am EDT May 25 (Reuters) - Oil refiner CVR Energy Inc, whose board is now controlled by billionaire investor Carl Icahn, said it re-appointed Chief Executive John Lipinski to its board, taking the total number of directors to ten. Icahn won control of CVR's board earlier this week, after he gained an 80 percent stake through his $30-per-share tender offer. CEO John Lipinski was replaced by an Icahn nominee on that day, a regulatory filing showed. "Effective May 23, the board re-appointed John Lipinski to the board, increasing the total number of directors to ten," CVR said in a filing on Friday. CVR shares closed at $27.17 on Thursday on the New York Stock Exchange. The stock has fallen 14 percent since touching a year-high of $31.71 on May 21, when Icahn won control of the board.

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