Business
JetBlue Announces Changes to Board of Directors Aligned with New Governance Guidelines
Three Directors to Retire; Peter Boneparth to Succeed Joel Peterson as Board Chair; New Independent Director Nominated NEW YORK--(BUSINESS WIRE)-- JetBlue
About this update from Jetblue Airways Corporation
[{"type":"text","content":"\nThree Directors to Retire; Peter Boneparth to Succeed Joel Peterson as Board Chair; New Independent Director Nominated\n\n NEW YORK--(BUSINESS WIRE)--\nJetBlue (NASDAQ: JBLU) today announced changes to its board of directors aligned with the company’s new governance guidelines, which the company recently revised to enhance the independence of the board.\n\n\n“After a thorough and thoughtful review process, our board adopted revised guidelines, including limits on tenure and an age-based retirement threshold, to assure the independence and objectivity of our board,” said Joel Peterson, chair of JetBlue’s board. “The right blend of fresh thinking, experience, and expertise will assure that our board is consistently providing the best possible support to leadership as we drive long term value creation for the benefit of all our important stakeholders.”\n\n\nConsistent with the new guidelines, Joel Peterson, Frank Sica and Stephan Gemkow will retire from the board at the end of their current term. Peter Boneparth will succeed Peterson as chair. Robert Leduc has been nominated as an independent director and will stand for election at the annual meeting of stockholders in May.\n\n\nIn addition, JetBlue announced that Chief Executive Officer Robin Hayes has agreed to extend the term of his employment contract for an additional year through July 2022.\n\n\n“Robin has done an incredible job of leading JetBlue and we are pleased he has agreed to extend his contract for an additional year,” Peterson said. “He is executing a long-term strategy for JetBlue with a strong leadership team that respects the unique brand we’ve built while positioning the business to deliver financial results for our crewmembers and shareholders.”\n\n\nPeterson, Sica and Gemkow to Retire From Board\n\n\nPeterson, Sica and Gemkow will retire from the board at the end of the current term, which expires on the date of the annual meeting of stockholders in May. Peterson joined the board in 1999, and has served as chair since 2008. Sica has served on the board since 1998. Gemkow joined the board in 2008, filling one of two board seats for Deutsche Lufthansa AG as a result of the company’s strategic investment in JetBlue.\n\n\n“I’d like to thank Joel, Frank and Stephan for their contributions and service to the board over the years,” said Robin Hayes, chief executive ...