Southwest Airlines’ executive chairman and former CEO Gary Kelly will not seek reelection and six board members will leave their roles amid pressure for an...
After lobbying from Elliott Management, Gary Kelly will retire as executive chairman next year and six other board members are stepping down.Chairman and CEO Gary Kelly listens to a question during the opening last year of Southwest Airlines' system operations center in Dallas.
Southwest Airlines’ executive chairman and former CEO Gary Kelly will not seek reelection and six board members will leave their roles amid pressure from activist investor Elliott Management, which has spent months pushing for change at the Dallas-based air carrier., which took a $1.9 billion stake in June and has pressured the airline to make changes to executive ranks and board members, along with other shifts in strategy.
According to a regulatory filing on Tuesday, Kelly notified the company and board that he will not stand for re-reelection at the company’s 2025 annual meeting of shareholders and will retire following a quarterly board meeting on Nov. 21. Six board candidates will also step down: David Biegler, Veronica Biggins, Roy Blunt, William Cunningham, Thomas Gilligan and Jill Soltau.
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