Southwest Airlines Announces Major Board Overhaul and Leadership Changes

Chairman Gary Kelly to retire in 2025 as Elliott Investment Management pressures for strategic shifts and board refreshment.

Southwest Airlines Chairman Gary Kelly will retire after the 2025 annual meeting amid pressure from Elliott Investment Management.
Six board members will step down in November, with four new independent directors to be appointed soon.
Elliott, which owns a significant stake in Southwest, has pushed for extensive leadership changes due to the airline's financial struggles.
Southwest's CEO Bob Jordan retains the board's full support despite Elliott's calls for his removal.
The airline plans to unveil detailed strategic changes at an investor day later this month.