United Continental airline investors challenge leadership: BBC News

Posted: March 9, 2016 in Airlines, airports, Heathrow, USA
Tags: , , , , , , , , , , ,

[BBC News] United Continental is facing a challenge from two shareholders calling for changes to the airline’s board.

Altimeter and PAR said the airline has done little to improve performance

Altimeter and PAR said the airline has done little to improve performance

Altimeter and PAR said they would put forward six new board members for election at United’s annual meeting.

They blamed an “entrenched board” on the airline’s failure to make progress.

But United’s chairman Henry Meyer said the shareholders had ignored attempts the board had made to engage them.

Together Altimeter and PAR control 7.1% of United’s shares.

The investors object to United’s decision, on Monday, to expand the size of its board with three new members.

“Yesterday’s last-ditch effort – adding just three people to its now 15-person board – is a cynical attempt to preserve power by this entrenched board,” said Brad Gerstner chief executive of Altimeter.

United announced its chief executive officer Oscar Munoz will return to full time work on 14 March after recovering from a heart attack in October.

Read the full story here at BBC News……

 


BBC News
9th March, 2016


Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s