Gordon M. Bethune, an airline industry veteran and former Continental Airlines chief executive officer, will lead a stockholder-nominated minority board slate of six candidates for election to the United Continental Holdings, Inc. (NYSE: UAL) (United) board at United´s 2016 Annual Meeting.
Long-term United stockholders Altimeter Capital Management, LP and PAR Capital Management, Inc., today announced their intention to encourage United stockholders to elect the Bethune-led minority board slate that has been nominated by Altimeter.
Collectively, Altimeter and PAR have been investing in the airline industry for decades and currently own approximately 7.1 percent of United´s outstanding common stock, which represents a collective United investment of approximately USD1.5 billion.
PAR Capital Management manages a private investment fund. The firm was founded in 1990 and is located in Boston, Massachusetts.