Artisan Partners Global Value Team Sends Letter To Southwest Airlines; Says 'Urge The Board To Reconstitute Itself And Upgrade The Company's Leadership Such That It Can Objectively Assess The Best Path Forward For Southwest's Shareholders, Employees, And Customers. We Believe This Process Needs To Commence Immediately'
Portfolio Pulse from Benzinga Newsdesk
Artisan Partners Global Value Team has sent a letter to the Board of Directors of Southwest Airlines (NYSE:LUV), urging the board to reconstitute itself and upgrade the company's leadership. Artisan Partners holds over 10.8 million shares of Southwest Airlines, representing approximately 1.82% of the company's outstanding shares. The letter aligns with recent calls from Elliott Investment Management for significant changes in Southwest's management.
June 12, 2024 | 5:44 pm
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Artisan Partners, holding 1.82% of Southwest Airlines' shares, has urged the board to reconstitute itself and upgrade leadership. This follows similar calls from Elliott Investment Management, indicating potential significant changes in the company's governance and management.
The call for reconstitution and leadership upgrade by a significant shareholder like Artisan Partners, combined with similar calls from Elliott Investment Management, suggests potential positive changes in governance. This could lead to improved investor confidence and a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100