• Southwest Airlines announced changes to its board including the retirement of its chairman Gary Kelly.
  • The Dallas-based airline said Kelly would voluntarily retire after Southwest’s annual meeting next year.
  • Southwest plans to appoint four new independent directors in the near term, which would potentially include up to three candidates proposed by Elliott Investment Management.

Southwest Airlines on Tuesday announced changes to its board including the retirement of its chairman Gary Kelly, but reiterated its support for CEO Bob Jordan amid calls for a shakeup from activist investor Elliott Investment Management.

The Dallas-based airline said Kelly would voluntarily retire after Southwest’s annual meeting next year, and that six directors will also voluntarily step down after the board meeting in November.

Southwest plans to appoint four new independent directors in the near term, which would potentially include up to three candidates proposed by Elliott.

The U.S. carrier unveiled the changes a day after Kelly and two of Southwest’s independent directors held a meeting with Elliott.

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