Reported about 1 year ago
Activist investor Elliott is threatening a proxy fight with Southwest Airlines to push for leadership changes, seeking new independent directors with expertise in airlines, customer experience, and technology. Elliott, holding an 11% stake, criticized Southwest's disappointing financial results and the appointment of Rakesh Gangwal to the board. Southwest implemented a 'poison pill' defense against Elliott's potential increased voting power. Gangwal, co-founder of IndiGo, brings travel technology expertise to support Southwest's strategic initiatives.
Source: YAHOO