United Continental settles fight over board
NEW YORK (AP) — United Continental is naming two new directors to its board, putting behind it, at least for now, a contentious fight with two big shareholders.
Activist investors Altimeter Capital and PAR Capital, have been pushing to shakeup United's board. Altimeter and PAR own a combined 7 percent stake in United Continental Holdings Inc., the parent company of United Airlines based in Chicago.
The new members are former CEO of travel website Orbitz Barney Harford and PAR managing partner Edward Shapiro.
A third board member will be added within six months.