Elliott Investment Management, the hedge fund aiming to take control of Southwest Airlines, has announced its own slate of 10 candidates for the airline’s 15-member board of directors. This move is part of Elliott’s strategy to implement significant changes at the Dallas-based carrier. The proposed board members include former executives from major airlines like Ryanair, Virgin America, and United Airlines, along with experts in various related fields, such as a current Meta board member and a former White House official.
Elliott, which acquired an 11% stake in Southwest Airlines in June, is pushing for a major overhaul of the company’s leadership, including the removal of CEO Bob Jordan. The hedge fund believes that its nominees will provide the necessary expertise and industry experience to help Southwest regain its status as a top-performing airline. Despite these pressures, Jordan has stated he has no intention of stepping down, and Southwest has implemented a “poison pill” strategy to prevent Elliott from increasing its control.
Southwest Airlines has yet to comment on Elliott’s latest move. Meanwhile, the airline’s stock saw a slight increase in pre-market trading following the announcement. Elliott’s push for change reflects its broader aim to conduct a thorough review of Southwest’s operations in response to the company’s recent struggles.
