Activist Investor Elliott, Who Criticized Southwest Airlines For Poor Execution, Now Announces 7% Stake In Company Amid Talks Of Management Overhaul
Portfolio Pulse from Benzinga Neuro
Elliott Investment Management has announced a 7% stake in Southwest Airlines (NYSE:LUV) and is advocating for a management overhaul, including the replacement of CEO Bob Jordan and Executive Chairman Gary Kelly. Elliott's total economic interest in Southwest, including derivatives, is approximately 11%. The firm is pushing for changes to enhance the airline's performance and has hinted at proposing new board candidates.
August 06, 2024 | 12:31 pm
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Elliott Investment Management has revealed a 7% stake in Southwest Airlines and is advocating for a management overhaul to enhance the airline's performance. Elliott's total economic interest, including derivatives, is approximately 11%.
Elliott's significant stake and push for management changes could lead to improved performance and investor confidence in Southwest Airlines. The potential for new board candidates and a management overhaul suggests a proactive approach to addressing the airline's underperformance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100