Southwest Airlines faces a major board restructuring as Executive Chairman Gary Kelly and six other members announce their resignations, following pressure from shareholders. This move comes after criticism surrounding the airline’s recent performance and operational issues.
Results for: Board Resignation
Lip-Bu Tan, former CEO of Cadence Design Systems and a board member of Intel Corp, has resigned from the board, citing a need to reprioritize his commitments. This news comes as Intel faces challenges including a decline in revenue and a cost-reduction plan involving headcount cuts. Tan joined Intel’s board in September 2022 and was a member of the mergers and acquisitions committee.