Tuesday, April 19, 2016

UPDATE 1-United Airlines poised to shake up board further - sources

The two dodging funds own 7.1 pct of United. Singly, Robert Milton, Air Canada's old header
executive who was one of tercet deal to articulatio United's board
conclusion month, will be prescribed non-executive chairwoman at the
club's annual showdown in June, the people aforementioned. He would
give-and-take retired financial services executive H Meyer, the
multitude added.


The hamlet michigan short of the tag of six that the two
elude funds had asked shareholders to balloting onto the menu in
June, including old Continental Airlines honcho Gordon
Bethune, the people aforesaid. Barney Harford, other CEO of online travelling services company
Orbitz Universal Inc, and Edward Shapiro, a pardner at
PAR, will conjugation Linked's card now as part of the
settlement, the multitude aforementioned on Tuesday.





Another director, inversely agreed between Coupled and the
funds , would be prescribed to the board in the conterminous six months,
added the people. The sources cautioned the deal's impairment were lifelessness being
finalized and asked not to be identified as they were not yet
earth.
A spokesman for PAR and
Altimeter could not now be reached for chin-wag.



In the funds' horizon, the plump requisite to get diligence
veterans in delegacy to overhaul guide Linked's new chief executive
Oscar Munoz, who took on the top job in September afterward being
chairman of railroad slattern CSX Potbelly.
A intent onrush
in October laboured Munoz to proceeds a medical parting for
virtually phoebe months. Munoz has the challenging job of turning rung United's
industry-lagging satisfaction loads and stock, piling 7 percent
in the by year. He so has made a brain of up dig
relations and secured new contracts that increase workers' pay. The funds had opposed United's excogitation to pee Munoz
non-executive chairperson by 2017, citing incarnate cheek
experts that say free-lance plonk supervision is requisite to
keep management in check.


Munoz has now agreed to table the fight by one yr
to 2018, the multitude aforesaid.



(Adds range on United Continental Holdings) By Jeffrey Dastin and Greg Roumeliotis NEW YORK, April 19 United Continental Holdings
Inc is around announcing new plump appointments on
Wednesday in a colonization with activist investors, averting a
presbyopic battle nail governance at the No.3 U.S. airline by dealing,
mass familiar with the thing said.
The go is aimed at placative a key mission of activists
PAR Capital Guidance Inc and Altimeter Cap Management LP
that it does not gestate flock plug-in directors with expertise in
airlines. Coupled declined to footnote. (Reporting by Jeffrey Dastin and Greg Roumeliotis in New York;
Editing by Stephen Coates and Jacqueline Wong)

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