UAL Shareholders Buck Board in Vote
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Shareholders in United Airlines’ parent company showed their displeasure with management of the money-losing carrier, adopting three advisory measures that one advocate said amount to a “wake-up call” for those running the airline.
The proposals, approved at UAL Corp.’s annual meeting, would link executives’ compensation to the company’s recovery, require shareholder approval of airline acquisitions and separate the jobs of chief executive and chairman, traditionally held by the same person.
The UAL board unanimously opposed the proposals.
UAL shares fell 20 cents to $11.89 in trading on the NYSE.
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