Oshkosh Corp. said the company believes that at least 12 of the 13 Oshkosh director nominees have been elected to the company’s board of directors. However, the Wall Street Journal reports, investor Carl Icahn opposed the retention of the company’s management team, stating that its acquisition of aerial work platform manufacturer has hurt the company’s stock price.

Icahn said, in a presentation to shareholders, that the company should consider selling JLG, contending that the sale would provide the cash Oshkosh needs to pay down debt and pursue acquisitions complementary to its military and specialty vehicles businesses.

Oshkosh executives, however, assert that JLG performed well during a prolonged construction slump and is now an integral part of Oshkosh’s manufacturing capacity. With an upswing in construction on the horizon, Oshkosh officials expect a major upturn for JLG, whose sales jumped 25.5 percent year-over-year during the company’s fiscal fourth quarter.

The apparent success of the Oshkosh-backed candidates indicates that the company is unlikely to spin off the industry’s leading aerial product manufacturer.