Icahn raises stake in Herbalife

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Activist investor Carl Icahn has raised his stake in Herbalife Ltd (HLF.N) to 23.1 percent as of Nov. 3, according to a regulatory filing on Thursday.

Icahn had reported a 20.78 percent stake in the company in August. (bit.ly/2fjU7ve)

Herbalife said on Tuesday that Chief Executive Michael Johnson would step down next year and be replaced by Chief Operating Officer Richard Goudis, a choice Icahn said he fully supported.

Herbalife’s shares were up just over 1 percent in extended trading.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Savio D’Souza)

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