United Board Appoints Three New Independent Directors
United Continental Holdings, Inc. yesterday announced that its Board of Directors has appointed three new highly qualified independent directors to the Board: James A.C. Kennedy, Robert A. Milton and James M. Whitehurst, effective immediately.
Henry L. Meyer III, Non-Executive Chairman of the Board, said, "We are always looking at ways to enhance corporate governance at United. We believe these accomplished executives, who have deep airline or other relevant experience, will provide invaluable perspective as we build on our strong momentum by continuously working to improve operations."
Oscar Munoz, who plans to resume the role of President and Chief Executive Officer on March 14, 2016, noted, "I am excited that three world-class, independent directors are joining the Board and believe they will help achieve our goal of generating superior value for shareholders."
United's three new directors will be nominated by the Board for re-election at the 2016 Annual Meeting. The Board expects to appoint a fourth new independent director in the near term, who would also be nominated for re-election at the 2016 Annual Meeting.
In connection with the appointment of the new directors, certain current directors will step down from the Board at or in advance of the 2016 Annual Meeting.