Reported 11 months ago
Elliott Investment Management revealed a $1.9 billion stake in Southwest Airlines Co., urging for new leadership and a business strategy overhaul. The firm criticized the poor execution and lack of modernization by CEO Bob Jordan and Executive Chairman Gary Kelly, leading to severe underperformance. Southwest's stock jumped after the news, with Elliott aiming for immediate changes and a new board lineup to address the airline's challenges.
Source: YAHOO