UPDATE 3-Navistar reaches deal with Icahn on board


* To phase out three-year directorships * Icahn will not nominate director slate * Follows Icahn's nominations to Oshkosh board * Navistar shares down 0.4 pct; Oshkosh down 0.2 pct (Adds analyst, CEO quotes, details) By Scott Malone Nov 15 (Reuters) - Navistar International Corp reached a deal with activist investor Carl Icahn that could put its directors up for election each year. In exchange, the billionaire Icahn, who holds a 10 percent stake in the U.S. heavy truck and engine ...

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