Oshkosh board will stay in place

Following several weeks of uncertainty, during which major Oshkosh Shareholder, Carl Icahn, tried to persuade fellow shareholders to elect six new board members he recommended, the votes appear to have come down on the side of the existing board.

Oshkosh has announced that at least 12 of the board of 13 have been re-elected, the final result being too close to announce as yet.

Had Mr Icahn's nominees made it on to the board it is probable they would have recommended the disposal of the JLG business to focus on the defence and vehicle sectors. The current board believes that JLG is a material part of its plan to develop from a "USA focused manufacturer, anchored in defence" to a "globally balanced and integrated industrial company".