F/a Bod Director Changes

[BoeingBoy]

Item 5.02 Departure of Directors or Principal Officers; Election of
Directors;
Appointment of Principal Officers

On August 27, 2004, US Airways Group, Inc. (the "Company") announced the election of Thomas R. Harter to its Board of Directors (the "Board"), effective immediately. Mr. Harter is currently a senior vice president and consultant at The Segal Company, based in Washington D.C. Mr. Harter will fill the Board seat held by the director elected by the Company's Series 3 Class C Preferred Stock. In accordance with the Company's Amended and Restated Certificate of Incorporation, Mr. Harter was designated to serve on the Board by the Association of Flight Attendants - Communications Workers of America, AFL-CIO, International and the Transport Workers Union of America, who are the holders of the Company's Series 3 Class C Preferred Stock. This Board seat was previously held by Perry L. Hayes, who resigned from the Board effective August 19, 2004. The Board has not yet determined to which Board committees Mr. Harter will be appointed. Please see the copy of the Company's press release attached hereto as Exhibit 99 and incorporated herein by reference.

Jim

ps - ok, PitBull or others, what's going on...

 

[hp_fa]

There is a whole thread on this somewhere. I tried to find it, but could not.

Readers Digest version is that Haynes apparently felt conflicted by his BOD non-disclosure and fiduciary requirements coming into conflict with his fiduciary relationship to the AFA MEC.

Personal note...I have never understood how any union officer at any company can also be a company BOD member at the same company where the union represents workers. It appears to me to be an obvious conflict-of-interest from the very beginning.

 

[BoeingBoy]

Thanks, hp.

Makes sense to me.

Jim

 

[diogenes]

Thanks hp,, perhaps perry could give some ethics pointers to other such conflicted folks.