Southwest Airlines investor Elliott Management plans to launch a proxy fight at the airline, and will nominate up to 10 directors to the company's board.
Elliott will launch a proxy fight at Southwest Airlines and will nominate 10 directors to the company's 15-person board.A Southwest Airlines Boeing 737-7Q8 takes off from Ronald Reagan Washington National Airport in Arlington Virginia on August 13, 2024.The activist has already amassed an economic interest of roughly 11%, although only 7% is in common stock.
Elliott disclosed its Southwest investment in June, writing to the company's board to say that it believed that CEO Bob Jordan and chairman Gary Kelly were responsible for a precipitous decline in the company's fortunes and that Southwest should move to replace them.
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