Southwest Airlines Settles with Elliott, Revamps Board

Southwest Airlines has reached an agreement with Elliott Investment Management, adding six new directors and retaining CEO Bob Jordan.

Southwest Airlines has ended its boardroom battle with Elliott Investment Management by agreeing to add six Elliott-backed directors to its board.
CEO Bob Jordan will remain in his position, while Executive Chairman Gary Kelly will retire earlier than planned, effective November 1.
Southwest reported a surprise third-quarter profit of $67 million, despite a significant drop from the previous year due to higher labor costs.
The airline plans to enhance revenue through new initiatives, including overnight flights, premium seating options, and a $2.5 billion stock buyback program.
Elliott's influence is expected to drive strategic changes aimed at boosting long-term shareholder value and improving operational performance.