Elliott is known for shaking up leadership at struggling companies and most recently pushed for the replacement of Starbucks CEO Laxman Narasimhan.
Activist hedge fund Elliott Investment Management has launched a battle to seize control of the board at Southwest Airlines as it pushes to oust the airline’s chief executive and improve performance, the firm said.
“The strong qualifications of these Candidates stand in contrast to those of the current Board, which prior to Elliott’s June 10 letter lacked a single independent director with airline experience,”Elliott Management is reportedly planning a proxy fight at Southwest Airlines in an effort to turn around the struggling company, according to Tuesday evening reports.
Once-mighty beauty company files for bankruptcy in face of 200 lawsuits linking its talc products to cancer Southwest reacted to Elliott’s investment by adopting a shareholder rights plan, or poison pill, that would kick in after an investor acquires 12.5% or more of the stock and allow other shareholders to buy more stock at a discount to try and prevent a takeover.
Elliott Management Southwest Airlines Starbucks
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