Teamsters Call For Independent Board Leadership At Republic Airways | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

AMA Drone Report

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday

Airborne-Thursday

Airborne-Friday

Airborne-Unmanned w/AUVSI

Airborne On ANN

AMA 09.21.17

Airborne 09.18.17

Airborne 09.19.17

Airborne 09.20.17

Airborne 09.21.17

Airborne 09.22.17

Airborne-Unmanned 09.19.17

Airborne-YouTube

AMA 09.21.17

Airborne 09.18.17

Airborne 09.19.17

Airborne 09.20.17

Airborne 09.21.17

Airborne 09.22.17

Airborne-Unmanned 09.19.17

NEW!!! 2017 AirVenture Innovation Preview -- YouTube Presentation / Vimeo Presentation

Wed, Jul 11, 2012

Teamsters Call For Independent Board Leadership At Republic Airways

Union Says Management Crisis Creates Urgency for Governance Reform

The International Brotherhood of Teamsters is calling on Republic Airways shareholders to vote for the union's proposal to appoint an independent chairman of the board. The proposal — No. 4 on the company's proxy - will be voted on by shareholders before polls close at the company's Aug. 1 shareholder meeting.

The Teamsters are urging investors to support this corporate governance reform as a better structure for shareholder representation at the struggling company. The union asserts that current structure, with its close-knit board and conflicted lead director, makes investors vulnerable to the whims of a domineering chairman/CEO with no clear vision for the airline.

"Republic's chairman and CEO, Bryan Bedford, has created a costly identity crisis for the once-successful airline," said Ken Hall, General Secretary-Treasurer of the International Brotherhood of Teamsters, a long-term shareholder that represents nearly half of all Republic employees, or about 4,500. "We need to take Republic's board off autopilot so that we can stop squandering cash, antagonizing customers, and destroying employee morale."

The Teamsters, in its investor critique, "Independent Board Leadership at Republic Airways – The Final Frontier," detail their case for independent board oversight and the inadequacy of Republic's current board structure. Richard Schifter, a managing partner of the private equity firm TPG and Republic's newest lead director, is no substitute for an independent chairman because of his own conflicts of interest and compromised independence from management.

The report highlights what the unions says are many of management's costly mistakes and contradicting business strategies that have weakened the company's core, regional feeder business and hurt the company's chances for success in the branded carrier business that it entered after acquiring Frontier and Midwest Airlines in 2009. 

"Investors need to know there is rigorous oversight of management at this critical time in Republic's history," Hall said. "With Barclays Capital, the bank Bedford tapped to help monetize Frontier Airlines, at the center of an international banking scandal and a pilot dispute that management has let fester for five years with no plan to resolve it now escalating, independent board leadership is needed now more than ever."

FMI: www.teamster.org

Advertisement

More News

Airborne 09.21.17: Pilot Runs 4 Senate, Seaplane Base Hit, Sonaca 200

Also: Mitchell Airport, AMA, Plane v Elk, Ariane 6, Lakeville Airport, Alaska Airlines Airshow and test pilot Bob Bishop is launching a run for the United States Senate in 2018. He>[...]

AMA Drone Report 09.21.17: AMA Expo West, Parrot Mambo, No Drone Pot Delivery

Also: Drone Injury Study, Cook County-IL, Northeastern Drone Society, Propel Star Wars Drones, GA UAS Integration One of the pinnacle model aviation events of the year is coming up>[...]

RFP: ANN Seeking New Site/Facility For Major Studio Upgrade

It's Official: Aggressive Upgrades For New Airborne Programs WILL Require New Digs It's been in development for years, but we're getting to a point where we think we can pull off s>[...]

Airborne-Unmanned 09.19.17: FAA OKs FL Drone Ops, ICAO Registry?, No Pot Drones

Also: FAA Reauthorization, Medical Drone Transport, USMC Quadcopters, Canister Launched UAS, Atlas Dynamics Airborne, primarily based in Jacksonville, FL is starting to recover fro>[...]

AMA Drone Report 09.21.17: AMA Expo West, Parrot Mambo, No Drone Pot Delivery

Also: Drone Injury Study, Cook County-IL, Northeastern Drone Society, Propel Star Wars Drones, GA UAS Integration One of the pinnacle model aviation events of the year is coming up>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2017 Web Development & Design by Pauli Systems, LC