Official press release from Southwest Airlines or Elliott Investment Management

Elliott and Southwest Airlines Near Settlement to Avoid Proxy Fight, Nominate Five Directors

Oct 24, 2024, 08:42 AM

Elliott Investment Management and Southwest Airlines Co. are nearing a settlement to avoid a proxy fight for control of the carrier’s board. The agreement, which is expected soon, will allow Elliott to nominate five directors to Southwest's board. This deal comes after a four-month battle between the activist investor and the airline. The settlement aims to address Elliott's push for changes within Southwest Airlines. The truce ends an acrimonious four-month battle.