David Tepper sends scathing letter to Whirlpool for destroying shareholder value, pushes for changes

David Tepper, billionaire founder of hedge fund Appaloosa Management, sent a strongly worded letter to Whirlpool's board, accusing the appliance maker of destroying shareholder value and calling for sweeping changes to its strategy and leadership.

Shares of Whirlpool rose nearly 1% after the news.

Whirlpool was the eighth-biggest holding in Appaloosa Management's portfolio at the end of the fourth quarter, worth $282 million, according to Verity data.

This is breaking news. Please refresh for updates.