UAL Corporation’s Shareholders Re-Elect All Directors at 2007 Annual Meeting
UAL Corporation (NASDAQ: UAUA), the holding company whose primary subsidiary is United Airlines, announced that its shareholders re-elected each of United’s directors for a one-year term at the Company’s 2007 Annual Meeting.
Each of the 10 directors standing for election by the common stockholders of the Company was re-elected:
Richard J. Almeida – retired Chairman and Chief Executive Officer of Heller Financial, Inc.
Mary K. Bush – President of Bush International, a global consulting firm
W. James Farrell – retired Chairman and Chief Executive Officer of Illinois Tool Works, Inc., an engineering components manufacturer
Walter Isaacson – President and Chief Executive Officer of the Aspen Institute, an international education and leadership organization; former Chairman and Chief Executive Officer of CNN
Robert D. Krebs – retired Chairman and Chief Executive Officer of Burlington Northern Santa Fe Corporation
Robert S. Miller – Chairman of Delphi Corporation, a supplier of mobile electronics and transportation systems; former Non-Executive Chairman of Federal Mogul Corporation, an auto parts supplier, and Chairman and Chief Executive Officer of Bethlehem Steel Corporation
James J. O’Connor – retired Chairman and Chief Executive Officer of Unicorn Corporation, a holding company, and its wholly owned subsidiary, Commonwealth Edison Company
Glenn F. Tilton – Chairman, President and Chief Executive Officer of UAL Corporation and its wholly owned subsidiary, United Air Lines, Inc.; Vice Chairman of ChevronTexaco Corporation; Chairman of the Board and Chief Executive Officer of Texaco, Inc.
David J. Vitale – Senior Advisor to the Chief Executive Officer of the Chicago Public Schools and the former Chief Administrative Officer of the Chicago Public Schools; former private investor; former President and Chief Executive Officer of the Chicago Board of Trade and Vice Chairman of the First Chicago NBD Corporation
John H. Walker – former Chief Executive Officer and President of the Boler Company, a transportation manufacturer; former Chief Executive Officer, President and Chief Operating Officer of Weirton Steel Corporation
In addition, holders of two classes of preferred stock – the Class Pilot MEC Junior Preferred Stock and the Class IAM Junior Preferred Stock – re-elected incumbents Mark A. Bathurst and Stephen R. Canale as UAL directors. Mr. Bathurst is Chairman of United Airlines ALPA-MEC (Air Line Pilots Association – Master Executive Council) and Captain, United Airbus 320; Mr. Canale is President and Directing General Chairman of the IAM (International Association of Machinists and Aerospace Workers) District Lodge 141.
Glenn F. Tilton, Chairman, President and Chief Executive Officer of UAL Corporation and United Air Lines, Inc., said, “We are pleased that our shareholders re-elected United’s world-class board, which comprises recognized business leaders who provide valuable input and oversight.”
“We are here today as a much stronger and more competitive company, executing on our performance agenda to optimize revenue, reduce costs and improve the customer experience,” Tilton continued. “We have created a solid financial platform for our company. We are generating significant free cash flow, which is important to the future stability of our company, and our ability to succeed in a hyper-competitive environment and navigate the inevitable industry economic downturns.”
Tilton also noted that Institutional Shareholder Services (ISS) last week advised United that it outperformed 98 percent of the 8,000 companies ISS reviewed for quality of corporate governance.
Final voting tallies are subject to certification by the Company’s inspectors of elections, and will be included in the Company’s next quarterly report filed with the Securities and Exchange Commission.
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