Friday, March 25, 2016

UPDATE 1-Activist investors want new United Airlines chairman before shareholder vote

The two hedge funds that have launched a boardroom fight with United Continental Holdings Inc on Tuesday called on the airline to immediately appoint one of its two new board members as chairman, according to a regulatory filing.
The funds asked that either James Whitehurst, former chief operating officer of Delta Air Lines Inc, or Robert Milton, former CEO of Air Canada, be appointed chairman before shareholders vote on a slate of six other directors that the funds proposed two weeks ago, the filing said.

United has yet to announce the date of its annual meeting when new board members can be elected.
Reporting by Jeffrey Dastin in Washington; Editing by Bernard Orr, Mar 23, 2016, Reuters
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