FlyerTalk Forums - View Single Post - UA Appoints 3 New Independent Directors & confirms Proxy Contest By PAR & Altimeter
Old Mar 8, 2016, 6:22 am
  #32  
DCEsquire
 
Join Date: Nov 2007
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Originally Posted by PsiFighter37
Saw it just on CNBC, but activists are putting up nominations for 6 new directors to the board. One of the nominees is apparently Gordon Bethune. Will get a link if I can find one shortly...

ETA: It's behind a paywall at WSJ, but PAR Capital Management and Altimeter Capital Management (combined they own 7% of UAL stock) are putting forth the nominees. Apparently they want Bethune as chairman of the board. Certainly puts these recent nominations in a new light - perhaps a way to shore up support for the current board and try to head off this move.
Yeah...wow just saw this! Major news....I suggest a separate thread. Article says PAR is claiming that appointment of independent directors is last ditch effort to hold on to control...I'm guessing Oscar might not be around long if the activists take charge..assume he is current boards pick...

http://www.wsj.com/articles/united-c...ats-1457441624
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