Key JetBlue Investor Wants Board Shrunk By Nearly Two-Thirds

JetBlue Airways Corp.‘s second largest shareholder is calling on the US carrier to shrink its board to five people from the current 13 as part of efforts to slash spending and return to profits.

Vlad Galkin, a Florida-based businessman who holds close to a 10% stake, said he’s talked to the carrier about dropping the board to as few as five members. Excluding two representatives of Icahn Enterprises, the third-largest shareholder, current directors own less than 1% of JetBlue, he said.