Elliott: Need for ‘thoughtful’ change at Southwest ‘remains urgent’

Elliott Investment Management L.P. released a statement on behalf of Partner John Pike and Portfolio Manager Bobby Xu regarding Southwest Airlines Co. and the actions announced, including the resignation of seven directors: “We learned yesterday, which was made public today, that nearly half of Southwest’s Board of Directors had decided to resign based on shareholder feedback. In our experience, this is unprecedented. We are pleased that the Board is beginning to recognize the degree of change that will be required at Southwest, and we hope to engage with the remaining directors to align on the further necessary changes. The need for thoughtful, deliberate change at Southwest remains urgent, and we believe the highly qualified nominees we have put forward are the right people to steady the Board and chart a new course for the airline.”