Southwest Airlines Faces Proxy Fight: Activist Investor Elliot Management Calls for Special Meeting and Ousting the CEO and Chairman

Elliott Management has called for a special meeting at Southwest Airlines to seek a major board shake-up. The activist investor aims to remove CEO Bob Jordan and Executive Chairman Gary Kelly, citing dissatisfaction with the airline's current strategy. Elliott proposed a ten-director slate, which includes airline veterans and former regulators. In response, the airline supported its current leadership and warned shareholders of the risks in handing control to Elliott’s nominees. Southwest’s shareholder meeting is expected in May, but Elliott hopes to elect new directors sooner.