• 3 months ago
Southwest Airlines is undergoing a significant board overhaul to boost its financial performance and stock price. Longtime Chairman Gary Kelly will retire next year. Six directors are stepping down in November, and four new ones, possibly including candidates from Elliott Investment Management, are being appointed. Elliott, which holds a 10% stake, has criticized Southwest's management and technology, as Southwest's profitability lags behind competitors.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:02Southwest Airlines is undergoing a significant board overhaul to boost financial performance
00:07and stock price.
00:09Longtime chairman Gary Kelly will retire next year.
00:12Six directors are stepping down in November, and four new ones, possibly including candidates
00:16from Elliott Investment Management, are being appointed.
00:19Elliott, which holds a 10% stake, has criticized Southwest's management and technology as Southwest's
00:24profitability lags behind competitors.
00:26For all things money, visit Benzinga.com.
00:30For more information, visit www.benzinga.com.

Recommended

0:37
I
Up next
Southwest Airlines COO Warns Employees of Upcoming 'Difficult Decisions,' Facing Pressure from Elliot Investment
Benzinga
0:41
Elliott Pushes to Reshape Southwest’s Strategic Plan, Targeting Board
Benzinga
0:36
Southwest Faces Proxy Battle as Elliott Pushes for Board Overhaul Ahead Of Holiday Travel Season
Benzinga
0:35
Southwest, Elliott Agree On Board Restructure, Kelly To Retire In November
Benzinga
0:33
Southwest Airlines Exec Chair and CEO Gary Kelly Buckles to Pressure from Activist Investor Elliot, Spurring Board Shakeup and Leadership Changes
Benzinga
0:36
Southwest Airlines Faces Proxy Fight: Activist Investor Elliot Management Calls for Special Meeting and Ousting the CEO and Chairman
Benzinga
0:41
Elliott Management Launches Proxy Fight to Revamp Southwest Airlines Board
Benzinga
0:41
Southwest Airlines' Leadership Under Fire as Elliott Management Takes $1.9 Billion Stake
Benzinga
0:36
Southwest Airlines Adopts Poison Pill Plan to Thwart Activist Investor Elliot Management
Benzinga
0:32
Southwest Airlines to Announce Major Shift from Open Seating Model as the Dallas-Based Airline Eyes More Profitable Boarding Strategy
Benzinga
1:44
Southwest Airlines says it will no longer offer open seating
The Street
2:01
Southwest Airlines reveals how new boarding process will work
The Street
0:42
Nike Withdraws Full-Year Guidance As New CEO Takes the Helm
Benzinga
0:37
American Airlines Lowers Profit Forecast Amid Analyst Skepticism Over Strategy Moves
Benzinga
0:51
Southwest CEO addresses crisis
Brut America
0:30
Bob van Dijk resigns as CEO of Naspers and Prosus, sparking leadership transition
Benzinga
0:35
Southwest is ditching its open seating policy
Fortune
0:50
Disney Shareholder Showdown: CEO Iger Clashes with Investor Peltz over Board Seats
Benzinga
0:33
Delta Air Lines Warns Of Election-Related Revenue Hit But Projects Rebound
Benzinga
0:34
American Airlines Raises Profit Forecast Despite Q3 Loss
Benzinga
0:35
Kohl’s Names Michaels CEO Ashley Buchanan As New Chief Executive
Benzinga
0:41
Wise Shares Slide as CFO Announces Departure
Benzinga
1:37
Southwest Flight Cancellations: Latest From Company, FAA, Ted Cruz
The Street
0:47
Spirit Airlines CEO Gets $3.8 Million Bonus 1 Week Before Company Files Bankruptcy
Benzinga
0:36
'We Watch Where Taylor Goes Because Our Demand Booms:' Taylor Swift's Eras Tour Sparks 25% Flight Demand Surge For United Airlines
Benzinga