On Monday, Elliott Investment Management bought an 11% stake in the company for $1.9 billion. In a letter to the company board, Elliott called on the airline to make leadership changes and replace CEO Bob Jordan and executive chairman Gary Kelly.
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Activist investor buys $1.9 billion stake in Dallas-based Southwest Airlines
Headline from FOX 4 Dallas ·
Newest
Southwest Airlines CEO says he's not quitting after an activist investor told him to get lost
By Chris Isidore, CNN New York (CNN) — Elliott Investment Management announced Monday it has taken a $1.9 billion stake in Southwest Airlines and said there needs to be new leadership at the Dallas-based carrier.
Activist shareholder Elliott Investment Management has bought a $1.9 billion stake in Southwest Airlines and is seeking to force out the CEO of the airline, which has struggled with operational and financial problems.
Activist hedge fund Elliott Management has amassed a $1.9 billion stake in Southwest Airlines and plans to push for leadership changes at the airline that has lagged big rivals.
Elliott Investment Management called for leadership change at Southwest Airlines on Monday after reporting a stake worth about $1.9 billion in the US carrier.
Elliott Investment Management on Monday told Southwest it should make leadership changes and take other actions, arguing the carrier needed to improve its financial performance.
On Monday, Elliott Investment Management bought an 11% stake in the company for $1.9 billion. In a letter to the company board, Elliott called on the airline to make leadership changes and replace CEO Bob Jordan and executive chairman Gary Kelly.
DALLAS -- Activist shareholder Elliott Investment Management has bought a $1.9 billion stake in Southwest Airlines and is seeking to force out the CEO of the airline, which has struggled with operational and financial problems.
