Elliott Management Launches Proxy Fight to Revamp Southwest Airlines Board

Elliott Management Launches Proxy Fight to Revamp Southwest Airlines Board

Elliott Management will launch a proxy fight at Southwest Airlines and intends to nominate as many as ten directors to the company's 15-person board. Elliott plans to call a special shareholder meeting, rather than waiting for the annual meeting, as it has already amassed an 11 economic interest in Southwest. The nominees Elliott has put forward for the board include former airline CEOs and executives from companies like Ryanair, Virgin America, Marriott, and JetBlue. Elliott took a stake in Southwest in June and has pushed for leadership changes, arguing that its CEO and chairman are responsible for the airline's recent poor performance.


User: Benzinga

Views: 106

Uploaded: 2024-08-14

Duration: 00:41