Southwest Airlines shakes up its board under pressure from a big ...

Sep 10, 2024 · Southwest Airlines shakes up its board under pressure from a big shareholder. A Southwest Airlines Boeing 737 passenger jet sits at a gate at the Tulsa International Airport …

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Southwest Airlines Shakes Up Its Board Under Pressure From A Big ...

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Sep 10, 2024 · Shares of Southwest Airlines Co. fell 4% in morning trading Tuesday. Elliott, the fund led by billionaire investor Paul Singer, has built a 10% stake in recent weeks and …

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Southwest Airlines Under Pressure From A Big Shareholder Shakes …

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Sep 10, 2024 · Shares of Southwest Airlines Co. fell 4% in morning trading Tuesday. Elliott, the fund led by billionaire investor Paul Singer, has built a 10% stake in recent weeks and …

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What happened to Southwest Airlines CEO Robert Jordan?

Southwest Airlines will revamp its board and the chairman will retire next year, but it intends to stick with CEO Robert Jordan A Southwest Airlines Boeing 737 passenger jet sits at a gate at the Tulsa International Airport Saturday, June 15, 2024, in Tulsa. (AP Photo/Charles Rex Arbogast) ...

Who is blaming Southwest's Management for a drop in stock price?

The two sides met Monday. Elliott blames Southwest’s management for the airline’s stock price dropping by more than half over three years. The hedge fund wants to replace Jordan , who has been CEO since early 2022, and Chairman Gary Kelly, the airline’s previous chief executive. ...

Does Southwest Airlines have a boarding policy?

Southwest now flies to many of the same big airports as its rivals. With the rise of “ultra-low-cost carriers,” it often gets undercut on price. It added fees for early boarding. In April, before Elliott disclosed it was buying Southwest shares, Jordan hinted at more changes in the airline’s longstanding boarding and seating policies. ...

What is the 'Southwest Effect'?

Over the years, the airline would often start flying to small airports overlooked or poorly served by other airlines. In what became known as the “Southwest effect,” the airline’s entry would stimulate demand and pressure other companies to reduce fares. ...

Is it time to shake up southwest?

"It’s time to shake things up, not just stir them a bit.” He said changes to Southwest's routes, marketing and seating will transform the airline. However, he dismissed changing the CEO, calling Jordan “a hands-on, detailed, and insightful thinker” who understands Southwest's “unique brand" and enjoys unanimous support of the board. ...

Is Elliott's pressure on southwest over?

Elliott praised the moves but suggested that its pressure on Southwest is not over. “We are pleased that the board is beginning to recognize the degree of change that will be required at Southwest, and we hope to engage with the remaining directors to align on the further necessary changes,” the hedge fund said. ...