Published On Oct 24, 2024, 11:54 AM
Southwest Airlines has reached an agreement with Elliott Investment Management to appoint six new directors to its board. This decision comes as a move to prevent a proxy fight with the activist investor, who is one of the airline's largest shareholders.
Positive
The appointment of new directors is likely to lead to strategic changes aimed at improving efficiency and profitability. Activist investors usually push for better operational performance, which can enhance shareholder value.
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The move came after the hedge fund Elliott Management, which has more than 10 percent of the airline’s shares, called for cost containment and better profits.