Southwest Chair Kelly to step down next year as activist Elliott pushes for changes at airline
Publishing timestamp: 2024-09-10 11:46:41
Summary
Southwest Airlines chairman Gary Kelly to retire in 2025 under pressure from Elliott Investment Management. Board shake-up announced as carrier faces pressure for changes. Elliott has been calling for leadership changes at Dallas-based carrier. Southwest has struggled with oversupplied domestic U.S. market, higher costs, and aircraft delivery delays from Boeing. Southwest plans to offer extra legroom, do away with open seating policy, and offer overnight flights. Investor day scheduled for Sept. 26 in Dallas to expand on initiatives.
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