Southwest Airlines has decided to retain CEO Robert Jordan despite pressure from Elliott Investment Management, which has called for significant leadership changes. Elliott's frustrations stem from management's inability to adapt to changing consumer preferences and the airline's failure to modernize its technology, leading to costly operational breakdowns like the one in December 2022 that resulted in over $1 billion in losses. The revamp of the board will see new directors brought in, likely including candidates from Elliott, who recently acquired a 10% stake in the company.
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