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Southwest Airlines ( (LUV) ) has shared an update.
Southwest Airlines Co. has announced major changes to its board, with the planned retirement of Executive Chairman Gary Kelly after the 2025 Annual Meeting and the resignation of six directors post the fourth quarter board meeting in November 2024. The board will be reduced to eight members, underscoring a significant refreshment strategy that involves the appointment of four new independent directors, possibly including candidates from Elliott Investment Management L.P. The company is also restructuring its governance, eliminating the Executive Committee and introducing a new Finance Committee, promising a fresh perspective and improved oversight. These changes are part of a comprehensive plan to enhance shareholder value and guide the airline’s strategic direction.
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