Southwest Airlines' board conceded to Elliott Management's demands, granting them five board seats to avoid a showdown that could have led to the firing of eight directors.
Elliott Management accused CEO Robert Jordan of overseeing 'stunning underperformance' and deemed him 'incapable of delivering on Southwest's potential,' prompting changes to the board.
Two Elliott nominees, David Cush and Gregg Saretsky, were installed to assist Jordan, highlighting a shift towards more hands-on oversight of Southwest’s operational and strategic planning.
#southwest-airlines #elliott-management #corporate-governance #board-of-directors #activist-investors
Collection
[
|
...
]