Atlas Air gives up board diversity as PE group takes over

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Atlas Air, which on Friday finally consummated its merger with an Apollo-led group of investors, has seen an immediate board change: only two directors remain, CEO John Dietrich and Walter Borst, while the others, including three women, have left.

The new board includes just one woman, Betsy Atkins, who also appears to be the only member not connected to the airline’s new private equity owners.

One new director is from Hill City Capital, two are from Lehman and four from Apollo, two ...