Carl Icahn’s CVR Energy Inc. has filed a lawsuit against Delek US Holdings Inc. seeking documents it believes will detail how the refineries’ Chief Executive Officer Ezra Uzi Yemin received an estimated $81 million in total compensation over the past eight years, some of which wasn’t disclosed in proxy statements.
CVR Energy alleges in the suit, which was filed in Delaware Thursday, that Yemin received the “eye-popping” compensation from both Delek and its publicly-traded logistic’s subsidiary, Delek Logistics Partners.
Roughly $53 million came in the form of compensation between 2013 and 2020 as chairman, president and CEO of Delek, CVR Energy said. The remainder is derived from a 5% interest in the general partner of the logistics subsidiary that he was given for unknown reasons and was bought back last year for $21.4 million. That portion wasn’t disclosed in proxy statements, the suit said.
“Yemin is a poster boy for all that is wrong with corporate governance in America,” the lawsuit states.
Submitted April 10, 2021 at 08:42PM by dremonearm https://ift.tt/2RrecGP
