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News comes as US regulators investigate separate incident after Boeing 737 Max 8 plane did a ‘Dutch roll' in May
Southwest Airlines LUV 1.39%increase; green up pointing triangle is flying through an identity crisis. Expect turbulence.
Artisan Partners, one of Southwest's biggest shareholders, said on Wednesday that it agreed with many of activist Elliott's demands at the airline. Elliott is seeking to oust CEO Bob Jordan and executive chairman Gary Kelly, something that Artisan also signaled support for.
DALLAS — The chief executive of Southwest Airlines Co. said Wednesday he will not resign in the face of pressure from a hedge fund that wants him fired, and that his leadership team will produce its own plan to boost the airline's financial performance.
MILWAUKEE, June 12, 2024 (GLOBE NEWSWIRE) -- The Artisan Partners Global Value Team today sent a letter to the Board of Directors of Southwest Airlines Co. (NYSE: LUV). The full text of the letter is as follows:
Activist investor Elliott Investment Management called for leadership and board changes at Southwest after reporting a stake worth about $1.9 billion in the carrier.
Southwest Airlines CEO Bob Jordan said on Wednesday he has no intention of stepping down despite pressure from activist Elliott Investment Management.
Southwest Airlines CEO Bob Jordan said on Wednesday he will not resign as the air carrier faces pressure from activist investor Elliott Investment Management, with it already considering amendments to its open-seating policy and other potential changes.
Southwest Airlines CEO Bob Jordan said the company is ready to adapt to changing customer trends like premium seating as demand shifts. Jordan's comments came days after hedge fund Elliott Management disclosed a nearly $2 billion stake in Southwest and said it wants to replace the carrier's CEO and chairman.
After a long year and a half of trading within a tight $27 to $35 channel roughly, shares of Southwest Airlines Co. NYSE: LUV have finally run into the catalyst investors were looking for to bring this company back to its former glory what some may even call its actual value.