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Southwest CEO to keep job after bitter boardroom battle with hedge fund Elliott
LUVSouthwest Airlines(LUV) New York Post·2024-10-25 00:01

Southwest Airlines ended a bitter boardroom battle with Elliott Investment Management on Thursday in a deal that will put half a dozen new directors on the carrier’s board to oversee its planned turnaround.The agreement came as the carrier reported a surprise third-quarter profit, benefiting from improved pricing and demand, as well as rebookings from passengers stranded due to the global cyber outage in July.As part of the deal, CEO Bob Jordan will retain his job but Executive Chairman Gary Kelly will leav ...