Posts Tagged ‘leadership challenge’


[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