The board announced the changes while expressing unanimous support for the airline's chief executive, Bob Jordan, who has been the target of sharp criticism from Elliott Investment Management. This unanimous backing emphasizes the board's confidence in his leadership capabilities, especially given the urgent need for transformational changes in Southwest Airlines.
Bob has a proven track record over decades and, most importantly, he has what it takes to lead Southwest through a significant transformation and usher in a new era of profitable growth, innovation, and industry leadership,
Elliott has called for both Mr. Kelly and Mr. Jordan to step down and has sought to replace most of the directors on the company's board. This highlights a significant tension between shareholder expectations and the current leadership's strategy.
We are pleased that the board is beginning to recognize the degree of change that will be required at Southwest, and we hope to engage with the remaining directors to align on the further necessary changes,
#southwest-airlines #board-restructuring #leadership-change #elliott-investment-management #corporate-governance
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