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Carl Icahn, the American financier, called for the replacement of Steven Goldstone as chief executive of RJR Nabisco Holdings, and said the food and tobacco company should settle tobacco litigation and raise its annual dividend to $2. He also disclosed that his stake in RJR Nabisco had been increased from 5.8 to 7.3 per cent.

His stake and his suggestions were disclosed in a schedule filed with the Securities and Exchange Commission. The filing also showed that he attempted to hire Gary Black, a tobacco analyst at Sanford C Bernstein & Co, to lead a slate of nominees for RJR's board of directors. Mr Icahn called on the company in the filing to work with members of the tobacco industry, Congress, and plaintiffs' lawyers toward a global legislative settlement of tobacco litigation. Bloomberg