Southwest adds former US Airways CEO to board as it battles activist
Publishing timestamp: 2024-07-08 14:18:22
Summary
Southwest Airlines adds Rakesh Gangwal to its board in response to activist push from Elliott Management, who is seeking leadership changes to revive innovation and improve financial performance. Southwest also implemented a shareholder rights plan to limit investors' stakes. Investor day in September expected to provide further updates.
Sentiment: MIXED
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