Elliott, known for pushing changes to boost shareholder returns, has called for a reconstitution of Southwest’s board with “new, truly independent” directors possessing expertise …
, Elliott said while it is open to collaboration, it plans to “move expeditiously to give shareholders a direct say on the necessary leadership changes.”Elliott, known for pushing changes to boost shareholder returns, has called for a reconstitution of Southwest’s board with “new, truly independent” directors possessing expertise in airlines, customer experience and technology.
Elliott said it is not seeking control of Southwest, but added the airline’s board has put its own “self-interest ahead of the company’s” by adopting the “poison pill.”It also criticized the appointment of aviation industry veteran Rakesh Gangwal to Southwest’s board, calling it an attempt on the part of the board to “entrench itself and the current management team.”
Airlines Elliott Management Proxy Fights Southwest Airlines
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