Two directors to leave US board

[N965VJ]

Two directors to leave US Airways board

Thursday, May 1, 2008 - 11:16 AM MST
The Business Journal of Phoenix

Richard Bartlett, chairman of Air Wisconsin Airlines Corp., is one of two directors who will not stand for re-election to the US Airways board at the company's annual meeting June 11, according to officials from the Tempe-based carrier.

Bartlett also is managing director and principal of New York City merchant bank Resource Holdings Ltd. The other departing director is Edward Shapiro, vice president and partner at Boston hedge fund PAR Capital Management Inc. Both original investors who participated in the 2005 merger between America West Airlines and US Airways.

They joined the new US Airways' board in September 2005. Upon their departures, US Airways Group Inc. will have nine members on its board.

Link

 

[hp_fa]

This is also a potential sign that things are going on backstage.

 

[InternationalShannon]

Can I get an application? I need a cool million.

I also would like to change the name to SpectaculAir. Or Spectacle Air. It'd work for us either way.

So, if things are going on backstage does this mean we're gonna get a merger dropped on us in a week?

 

[oldiebutgoody]

Are either one or both of these guys or the companies they represent on the UAUA board? If so, they're probably leaving to avoid conflict of interest issues.

 

[roadtrip]

Seen this move before in other mergers. Clean the boardroom up before the new directors move in!

Probably painting the walls as we speak in United colors!

 

[X-U]

One was from PAR and one was from Air Wisconsin. It sounds like each company no longer has a financial interest in LCC.

 

[N903AW]

One was from PAR and one was from Air Wisconsin. It sounds like each company no longer has a financial interest in LCC.

Out of curiosity, isn't there some "bad blood" between Air Wisconsin and United following their going separate ways??

 

[olivia]

As I recall, Mr Shapiro sold most of his stock in the company in feb of 2006 right before
the "Res Migration".

Guess he had some idea of what might happen!