Southwest Airlines appoints Rakesh Gangwal to its board in response to Elliott Investment Management's demands.
Southwest Airlines appoints aviation industry veteran Rakesh Gangwal to its board in response to demands for leadership and business changes from activist investor Elliott Investment Management, which holds a $1.9bn stake in the carrier. Gangwal, co-founder of IndiGo, is the second defensive move taken by Southwest since Elliott's stake was revealed, following the adoption of a "poison pill" shareholder rights plan.
July 08, 2024
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