Southwest Airlines is facing a shareholder battle with Elliott Investment Management, who is demanding board changes and a management refresh. The activist investor has launched a podcast series to promote its nominees, while Southwest maintains its focus on a ‘Southwest. Even Better’ plan to transform its business. This news comes as Southwest stock experiences a surge.
Elliott Investment Management, an activist investor, has demanded a special shareholder meeting at Southwest Airlines and nominated eight directors to the board. This move follows Elliott’s acquisition of a significant stake in the airline and its persistent push for changes to improve Southwest’s profitability and governance. The activist investor’s actions come as Southwest grapples with recent struggles and attempts to implement its new turnaround plan.
Elliott Investment Management, a hedge fund managing $70 billion in assets, has acquired enough shares to call a special meeting at Southwest Airlines. This move comes after Elliott’s efforts to influence Southwest’s leadership, including demanding the removal of CEO Robert Jordan and Executive Chairman Gary Kelly. The hedge fund has also criticized Southwest’s recent efforts to improve its image and stock price as being insufficient.
