Reported 13 days ago
Elliott Investment Management announced plans to call a special shareholder meeting to replace Southwest Airlines' CEO Bob Jordan and two-thirds of its board, citing underperformance as the reason. Despite Elliott owning over 10% of Southwest's stock, the airline insists Jordan remains the right leader to execute its turnaround strategy. As the airline struggles with post-pandemic challenges, Elliott criticizes its current management approach and accuses them of prioritizing self-preservation over necessary changes.
Source: YAHOO