(Washington, DC) - Today, Teamster Continental employee-shareowners called for the immediate resignation of David Bonderman from the company’s Board of Directors.  

Bonderman, president and founder of Texas Pacific Group (TPG) – who once held controlling interest in Continental Airlines [NYSE:  CAL], recently sold 880,000 shares of Continental stock.  Bonderman’s TPG, which holds a controlling interest in competitor airline America West  [NYSE: AWA] continues to claim two board seats at Continental and one at America West.

TPG also continues to vie for ownership of other airlines, including a recently rejected bid for Air Canada.

Bonderman’s directorship at Continental sparked serious concerns and questions at the Company’s shareholder meeting this year due to conflicts of interest caused by financial investment, interest, and/or control in competitor companies and access to highly sensitive business information. 

“We want to have directors who are invested in the success of Continental Airlines,” said Rodney Rhoades, Continental mechanic and president of Teamsters Local 19 that represents Continental workers, “Not the success of our competition.”

“Unlike Mr. Bonderman’s, our livelihoods depend on the success of Continental Airlines,” said Robert Rasch, a Continental mechanic and shareholder. “By selling off more Continental stock, Mr. Bonderman has heightened our concerns that his primary interest is not necessarily in the best interest of Continental shareholders. He should do the responsible thing and resign.”

The International Brotherhood of Teamsters represents more than 3,000 workers at Continental Airlines. Founded in 1903, the International Brotherhood of Teamsters represents 1.4 million hardworking men and women in the United States and Canada.