CEO Jeff Smisek Out;Oscar Munoz new Pres/CEO,Henry Meyer non-ex Chair;FBI case closed
Nov 4, 2017, 3:12 pm
#1501
Join Date: Nov 2005
Location: Denver & Phoenix
Programs: UA 2MM, Life UC, Global Entry (UK citizen)
Posts: 129
Jeff took the (shareholders') money and ran!
I'd like to know what's happening with this:
I'd like to know what's happening with this:
From Bloomberg...
https://www.bloomberg.com/news/artic...erance-package
"United Continental Holdings Inc. directors were sued by a pension fund for granting a $37 million severance package to the carrier’s former chief executive officer, who was ousted in a bribery scandal.
The airline’s board erred in signing off on “lavish golden parachutes” for ex-CEO Jeff Smisek and other officials forced out after investigators found a public official strong-armed United into scheduling twice-weekly flights to an airport near a Port Authority of New York and New Jersey official’s vacation home, the Florida-based fund said in a lawsuit.
Directors also harmed investors by refusing to demand that Smisek return severance payments, the City of Tamarac Firefighters Pension Trust Fund said in the Delaware Chancery Court complaint.
The board “put the interests of Smisek and the other officers ahead of the company’s best interests,” the fund’s lawyers said in the suit, which was unsealed Wednesday.
https://www.bloomberg.com/news/artic...erance-package
"United Continental Holdings Inc. directors were sued by a pension fund for granting a $37 million severance package to the carrier’s former chief executive officer, who was ousted in a bribery scandal.
The airline’s board erred in signing off on “lavish golden parachutes” for ex-CEO Jeff Smisek and other officials forced out after investigators found a public official strong-armed United into scheduling twice-weekly flights to an airport near a Port Authority of New York and New Jersey official’s vacation home, the Florida-based fund said in a lawsuit.
Directors also harmed investors by refusing to demand that Smisek return severance payments, the City of Tamarac Firefighters Pension Trust Fund said in the Delaware Chancery Court complaint.
The board “put the interests of Smisek and the other officers ahead of the company’s best interests,” the fund’s lawyers said in the suit, which was unsealed Wednesday.
