New position will add independence and transparency to Board operations
The Board of Directors of Republic Airways Holdings, Inc. (NASDAQ: RJET) today announced the appointment of David N. Siegel as lead independent director of the airline holding company's Board. He has been a member of the Board since 2009 and serves as chairman of the Compensation Committee.
Among other things, the lead independent director chairs executive sessions of the independent directors, serves as a spokesperson for the independent directors, and acts as a liaison between the other independent directors and Company management, auditors and counsel.
"The lead director position was created to provide greater independence and transparency to the operation of the Board and oversight of the management team," explained Bryan Bedford, chairman, president and chief executive officer of Republic Airways. "The new position is another step in our ongoing efforts to implement best practices for corporate governance."
Siegel's commercial aviation experience spans more than two decades. Most recently he served as chairman and chief executive officer of XOJET, Inc. a private aviation company. He stepped down in 2010, but remains a board member. He previously served as chairman and chief executive officer of gategroup, A.G. and also remains on that company's board. Prior to gategroup, Siegel was president, chief executive and board member of US Airways Group, Inc. and before that chairman and chief executive officer of Avis Rent A Car System, Inc. His airline industry experience also includes senior executive roles at Continental Airlines and Northwest Airlines.
Siegel earned a master's degree in business administration from Harvard Business School and a bachelor of science degree, magna cum laude, in applied mathematics-economics from Brown University.
"Dave has been a key contributor since he joined our board," Bedford said. "We're looking forward to continuing to benefit from his extensive industry experience and leadership as we work to deliver excellent value to Republic shareholders."
Republic Airways Holdings, based in Indianapolis, Indiana, is an airline holding company that owns Chautauqua Airlines, Frontier Airlines, Republic Airlines and Shuttle America. The airlines offer scheduled passenger service on approximately 1,500 flights daily to 129 cities in 41 states, Canada, Costa Rica, and Mexico under branded operations at Frontier, and through fixed-fee airline services agreements with five major U.S. airlines. The fixed-fee flights are operated under an airline partner brand, such as AmericanConnection, Continental Express, Delta Connection, United Express and US Airways Express. The airlines currently employ approximately 11,000 aviation professionals and operate 275 jet aircraft.
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