JetBlue Airways (JBLU) has released an update.
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JetBlue Airways Corporation has struck a deal with investor Carl C. Icahn and his associates, the Icahn Group, to shake up its board composition. Starting February 26, 2024, Jesse Lynn and Steven Miller, nominated by Icahn, will join as non-voting board observers and then become directors post the company’s 2024 Annual Meeting. This move comes with the understanding that the Icahn Group won’t initiate a proxy contest or push for proxies at the 2024 Annual Meeting. In exchange for board influence, the Icahn Group has agreed to ownership thresholds that, if not maintained, will result in the resignation of their nominees. This power play by Icahn could signal significant strategic shifts for JetBlue, with the financial community watching closely.
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