Delta has appointed U.S.
Trust Company, N.A., as the independent fiduciary investment
manager for the Delta Stock Fund and the Employee Stock
Ownership Plan (ESOP). The Stock Fund and the ESOP are
components of the Delta Family-Care Savings Plan.
Previously the Benefit Funds Investment Committee (BFIC), a
working committee of Delta's Board of Directors, was the
named fiduciary of the Plan and was responsible for
overseeing the Stock Fund and the ESOP.
"Delta has taken this very
prudent action to ensure that the company continues to be in
compliance with ERISA [the Employee Retirement Income
Security Act of 1974]", said Rob Kight, managing
director-Worldwide Benefits & Health Resources. "The
decision will ensure that investment decisions regarding
Delta stock held in the Stock Fund and ESOP plans are made
solely in the interests of plan participants. It is
intended to avoid any possibility of a conflict of interest
in connection with these decisions. Delta's board
believes this is the wisest course of action given the
company's current challenges."
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