Frontier Group Holdings (ULCC) has issued an update.
Indigo Frontier Holdings Company, LLC is set to profoundly transform its stake in Frontier Group Holdings by distributing its 80% shareholding—amounting to roughly 178.8 million shares—to its members as part of its investment fund’s dissolution. This move will end Frontier’s status as a “controlled company” on the Nasdaq, triggering key corporate governance changes, such as the introduction of independent director-led compensation and nomination committees. William A. Franke, a major beneficiary with about 44% of the distributed shares, will step down from his governance committee role but will continue as the board chair.
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