April 12 Hedge fund Greenlight Capital said on
Wednesday that it had nominated three independent candidates to
the board of General Motors Co.
Greenlight, run by billionaire investor David Einhorn, wants
GM's management to split its common stock into two classes: one
that would receive the current dividends and one that would
participate in all earnings and future growth of the company.
Greenlight, in a preliminary proxy with the Securities and
Exchange Commission, said its nominees were Leo Hindery Jr,
managing partner of private equity firm InterMedia Partners,
Vinit Sethi, director of research at Greenlight, and William
Thorndike Jr, founder of private equity investment firm
GM's shares were up 0.3 percent at $34.01 in premarket
(Reporting by Ankit Ajmera in Bengaluru; Editing by Maju