Southwest and activist investor Elliott strike deal to keep CEO Bob Jordan, add six new directors
Publishing timestamp: 2024-10-24 02:32:48
Summary
Southwest Airlines and activist investor Elliott Investment Management have reached a settlement to avoid a proxy fight, with six new directors joining the airline's board and Executive Chairman Gary Kelly retiring earlier. The deal also includes changes to the airline's business model and profit-boosting strategies. Southwest's shares are up slightly this year, but the airline is making changes to increase profitability.
Sentiment: MIXED
Keywords: airlines, transportation, southwest airlines co, gary c. kelly, delta air lines inc, breaking news: business, business news,