Skift Take
We won't speculate about the prospects of the proxy fight at United in which the dissidents have enlisted the support of former Continental CEO Gordon Bethune and online travel veterans. The timing, though, would have been more beneficial had the board battle been started under United's Jeff Smisek regime.
A United Continental Holdings official questioned the timing of the shareholder fight to elect six new members, including former Continental chairman and CEO Gordon Bethune, to the airline's growing board lineup while one of those dissident shareholders countered "we only care about helping re-build a world-class Board and airline."
Gerry Laderman, United's acting CFO, used his opening sentences at the J.P. Morgan Aviation, Transportation and Industrials Conference in New York City March 8 to blast the proxy fight waged by Altimeter Capital and PAR Capital Management, which own 7.2 percent of United's shares.
"As some of you may know by now two of our shareholders have announced their intention to launch a proxy fight," Laderman told analysts as Teamsters representing United's mechanics picketed outside. "We will not be discussing the proxy fight today other than to say that they are doing it at a time when management has just begun to execute on the strategy that our president and CEO Oscar Munoz has
