Zac Hirzel, the manager of Hirzel Capital Management has achieved his idea to get on the board of Hawaiian Holdings, Inc. (NASDAQ:HA). According to a filing, in a letter sent to Mr. Hirzel from Hawaiian Holdings, the company said that it “will take all necessary action to appoint” him as a director starting the next meeting of the Board, scheduled for September.
In this way, Mr. Hirzel will become the 13th director on the board of Hawaiian Holdings, Inc. (NASDAQ:HA). The manager of Hirzel Capital Management has been pursuing the company into accepting him on the board since May. Hirzel sent two letters to the company’s board outlining his skills and explaining why his nomination would be a valuable addition to the company’s board. However, the company hasn’t accepted his requests until now.
“Mr. Hirzel has been a champion of Hawaiian’s expansion into Asia and appreciates the value inherent in the overall business, […] We welcome the expertise that he brings as the newest addition to our board,” Mark Dunkerley, Hawaiian Holdings, Inc. (NASDAQ:HA) and Hawaiian Airlines president, chief executive officer and board member, said in a statement.
Hirzel Capital Management holds currently almost 5.7 million shares of Hawaiian Holdings, Inc. (NASDAQ:HA), the stake amassing 10.8% of the company’s common stock. At the end of October, the fund bought 28,300 shares of the company, for a price of $7.40 apiece. Overall, Hirzel boosted its stake from around 5.1 million shares held at the end of September, and revealed in its latest 13F.
Among other hedge funds that revealed ownership of Hawaiian Holdings, Inc. (NASDAQ:HA) shares, we can mention Paul Tanico‘s Castlerock Asset Management, which held almost 654,000 shares at the end of September, with a value of $3.8 million. Q Investments (Specter Holdings), run by Geoffrey Raynor, revealed owning some 507,400 shares, worth $3.8 million.