Activist investor Elliott Management announced on September 24, 2024, its intention to call a special shareholder meeting at Southwest Airlines. The firm is pushing for significant leadership changes, including the removal of CEO Bob Jordan and Executive Chairman Gary Kelly.
Elliott Management, which holds an 11% stake in Southwest, has proposed a slate of 10 director candidates for election to the board. The activist investor has been critical of the airline's current business model and its pace of strategic adaptation.
Southwest Airlines responded by reiterating its support for CEO Bob Jordan and criticizing Elliott's approach, calling it 'unnecessary and inappropriate.' This sets the stage for a potential proxy battle over the airline's future direction.
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