CHICAGO, June 24, 2003 - UAL Corp. (OTCBB: UALAQ.OB) today named two outside executives to its board of directors and announced the retirement of two directors.
Robert S. (“Steve”) Miller, Jr., is the former chairman and chief executive officer of Bethlehem Steel Corporation, which became the country’s largest steel producer earlier this year when it was purchased by International Steel Group as part of Bethlehem Steel’s emergence from Chapter 11 bankruptcy. Miller, 61, also played a central role in the 1980 financial recovery of Chrysler Corporation, and, more recently, financial restructurings at Federal-Mogul Corporation, Waste Management, Inc., and Morrison Knudsen Corporation (now Washington Group International).
Miller left Chrysler Corporation in 1992 as Vice Chairman. He is a graduate of Harvard Law School and has a master’s degree from Stanford University’s School of Business.
George B. Weiksner, Jr., is vice chairman, Latin America, for Credit Suisse First Boston Corporation, based in New York. A 33-year veteran of the firm, his experience spans the full range of investment banking services for both domestic and international clients. Currently, he has responsibility for business development in Latin America, and he was previously managing director and co-head of CSFB’s Global Corporate Finance Group, which he developed. He was also chairman of the financing section of CSFB’s U.S. Investment Banking Committee.
Weiksner, 58, is a graduate of Princeton University and earned an MBA and a law degree at Stanford University.
Miller and Weiksner are the second and third new outside directors to join United’s board in less than a month. On May 27, the company announced that Dipak C. Jain, Dean of the Kellogg School of Management at Northwestern University, had become a director. Dean Jain has been a member of the Kellogg School faculty since 1987 and was appointed dean in 2001. His teaching and research portfolio focus on a variety of marketing disciplines.
“Steve Miller brings extensive experience, energy and commitment to United’s board deliberations,” said Glenn F. Tilton, United’s chairman, chief executive officer and president. “His expertise in corporate restructuring will be invaluable as we continue the successful rebuilding of United Airlines.
“George Weiksner’s acknowledged leadership role at CSFB and his three decades of global investment banking experience will also serve us in good stead,” Tilton continued. “They will prove to be additional strengths as we recapitalize the corporation upon exit from bankruptcy and create a profitable global enterprise going forward.
“United’s three new directors together add considerable breadth and depth to our board in areas key to our future success -marketing, corporate restructuring and global finance,” Tilton concluded. “I’m pleased to welcome them and delighted that they’ve joined us at what is an inflection point in United’s history.”
The company also announced the retirement from its board of Richard D. McCormick and John K.Van de Kamp.
“For nearly ten years, Dick and John have served this company with dedication,” said Tilton. “They’ve been with us through some very good times and some very tough times, and through it all, they have been consistent and unwavering in their wise counsel. We thank them for their hard work and insights and we wish them well in important new endeavors they are pursuing.”
United operates more than 1,700 flights a day on a route network that spans the globe. News releases and other information about United Airlines can be found at the company’s website,Ê www.united.com.