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JetBlue Airways Corporation (JBLU)
Annual Shareholder Meeting Call
May 9, 2013 10:00 AM ET
Dave Barger – President and CEO
James Hnat – EVP, Corporate Affairs, General Counsel and Corporate Secretary
Mark Powers – CFO
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Thank you, Mr. Barger and good morning everyone. We’re pleased to be hosting a hybrid annual meeting this morning and welcome those of you here in the room as well as those of you attending via the Internet. This meeting is being recorded and will be webcast on the investor relations section of our website JetBlue.com. We have provided each stockholder a record as of March 15, 2013 with a notice of Internet availability of our proxy materials including information on how to access our proxy materials and annual report. Copies of these documents are available to any stockholder who does not have them.
The agenda for today’s meeting and the rules of conduct of the meeting were distributed. Please familiarize yourself with these rules and abide by them at all times. Upon the germane of our formal business Mr. Barger will provide a brief overview of the company after which there will be time for questions. We hope we have sufficient questions and discussion time so to give all stockholders who are present an opportunity to ask questions. When it is time to ask questions and discussion if you are present in person should you wish to say something please raise your hand. After I have recognized you someone will bring you a microphone, please rise and state your name and indicate whether you are a stockholder or a proxyholder before proceeding with your question. If you are a stockholder attending via the Internet, if you have a question please submit your question at virtualshareholdermeeting.com/jblu 2013. We will do our best to answer all questions received, but we cannot guarantee that we will have sufficient time.
I would like to begin by introducing the following members of the Company’s Board of Directors and nominees for the Company’s Board of Directors here with us today, would each of you please raise your hand or stand when you are introduced. Dave Barger, Chairman Joel Peterson, Vice Chairman Frank Sica, Jens Bischof, Peter Boneparth, Dave Checketts, Virginia Gambale, Stephan Gemkow, Ellen Jewett, Stanley McChrystal, Ann Rhoades, and Thomas Winkelmann.
Also with us today are a number of JetBlue’s officers including our executive leadership team. It gives me great pleasure to introduce Joanna Geraghty, our Chief People Officer; Rob Maruster, our Chief Operating Officer; Eash Sundaram, our Chief Information Officer, Robin Hayes; our Chief Commercial Officer and Mark Powers our Chief Financial Officer. I also would also like to recognize many of the JetBlue crewmembers who maybe listening today via the Internet and any that members of our Values Committee who are present.
We would like to welcome the members of the 2013 Inaugural Leadership Horizons Class who are also joining us here at the shareholder meeting today. Finally I should mention that also present with us today are (inaudible) the Ernst & Young LLP the company’s auditors during 2012, Colin Diamond, Mark Hamilton, and Irina Yevmenenko of White & Case Counsel to the company. This meeting is held pursuant to notice mailed on March 27, 2013, the each stockholder record as of March 15, 2013.
As stated in the notice the purpose of this meeting are as follows. First, to elect 12 Directors nominated by the Board of Directors to sort of until the 2014 Annual Meeting of Stockholders. Second, to ratify the election of Ernst & Young LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2013. Third, seek approval of an amendment to the JetBlue Airways Corporation 2011 Crewmembers Stock Purchase Plan to change the purchase price formula. Four, to seek approval on an advisory basis of the compensation of JetBlue’s named executive officers and to transact any such other business if any that may properly come before the annual meeting in accordance with the company’s by-laws or any (germane’s) thereof. In addition our Board of Directors have adopted resolutions providing for the meeting to be held at this time and this place directing that the notice be given to sorry notice be given as provided in the by-laws and fixing March 15, 2013 as the record date for determining which stockholders are entitled to notice and vote at this meeting.
Now, I ask that we have hold questions until the question-and-answer session. Yes sir.
(Question Inaudible) a good number of residents of this city would not have photo ID. That’s a presumption people who fly or people who drive. My mother-in-law for example who is 88 does not drive has no ID. She would not be allowed to come that disturbs me?
Mr. (inaudible), thank you for question. I share your concern about protecting our individual liberties on this front. What I also notice is the tenant of this building which is we are a sublet so we have to abide by the security protocols of the building additionally for the safe and secure running of this meeting we want to make sure that the stockholders who are registered can produce their identification if in fact there is an opportunity for us to help with your identification we would be happy to do so in the future.