Southwest Airlines activist investor group deal adds six board members, CEO stays

Southwest Airlines Thursday reached a deal with activist investor group Elliot Investment Management that avoids a proxy fight. Under the deal CEO Bob Jordan (L) stays on while board Chairman Gary Kelly steps down. Six new board members will join the board. File Photo by Leigh Vogel/UPI | License Photo
Oct. 24 (UPI) — Southwest Airlines Thursday reached an agreement with activist investor Elliot Investment Management to head off a proxy battle. The deal includes CEO Bob Jordan staying on as six new directors join the board and an early retirement for Executive Chairman Gary Kelly. Advertisement
Southwest Airlines said in a statement that Kelly will leave the board effective Nov. 1 and will assume the title of chairman emeritus.