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Elliott Statement on Southwest Governance Changes

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Elliott Investment Management has released a statement regarding leadership changes at Southwest Airlines (NYSE:LUV). The investment firm acknowledged Rakesh Gangwal's decision to step down as Chair of Southwest Airlines, while noting he will remain on the Board. Elliott's Partner John Pike and Portfolio Manager Bobby Xu expressed gratitude for Gangwal's leadership during what they described as a transformational period for the company.

Elliott affirmed its confidence in Southwest's trajectory and expressed commitment to maintaining constructive engagement as the airline pursues its long-term value creation strategy.

Elliott Investment Management ha rilasciato una dichiarazione riguardo ai cambiamenti nella leadership di Southwest Airlines (NYSE:LUV). La società di investimento ha riconosciuto la decisione di Rakesh Gangwal di dimettersi dalla carica di Presidente di Southwest Airlines, sottolineando però che resterà nel Consiglio di Amministrazione. John Pike, Partner di Elliott, e Bobby Xu, Portfolio Manager, hanno espresso gratitudine per la guida di Gangwal durante quello che hanno definito un periodo di trasformazione per l’azienda.

Elliott ha confermato la sua fiducia nel percorso di Southwest e ha ribadito l’impegno a mantenere un dialogo costruttivo mentre la compagnia aerea persegue la sua strategia di creazione di valore a lungo termine.

Elliott Investment Management ha emitido un comunicado sobre los cambios en el liderazgo de Southwest Airlines (NYSE:LUV). La firma de inversión reconoció la decisión de Rakesh Gangwal de renunciar como presidente de Southwest Airlines, aunque destacó que permanecerá en la Junta Directiva. John Pike, socio de Elliott, y Bobby Xu, gestor de cartera, expresaron su agradecimiento por el liderazgo de Gangwal durante lo que describieron como un período de transformación para la compañía.

Elliott reafirmó su confianza en la trayectoria de Southwest y manifestó su compromiso de mantener un compromiso constructivo mientras la aerolínea sigue su estrategia de creación de valor a largo plazo.

Elliott Investment Managementµç� Southwest Airlines (NYSE:LUV)ì� 리ë”ì‹� ë³€í™”ì— ê´€í•� 성명ì� 발표했습니다. íˆ¬ìž íšŒì‚¬µç� Rakesh Gangwalì� Southwest Airlines ì˜ìž¥ì§ì—ì„� 물러나기ë¡� í•� ê²°ì •ì� ì¸ì •í•˜ë©´ì„œë„ ê·¸ê°€ ì´ì‚¬íšŒì—µç� ê³„ì† ë‚¨ì„ ê²ƒìž„ì� ë°í˜”습니ë‹�. Elliottì� 파트ë„� John Pike와 í¬íЏí´ë¦¬ì˜� 매니저 Bobby Xuµç� 회사가 겪고 있µç” ë³€í™”ì˜ ì‹œê¸°ì—� Gangwalì� 리ë”ì‹­ì— ê°ì‚¬ë¥� 표했습니ë‹�.

Elliottµç� Southwestì� 향후 ë°©í–¥ì—� 대í•� 신뢰ë¥� 재확ì¸í•˜ë©� 항공사가 장기ì ì¸ ê°€ì¹� 창출 ì „ëžµì� 추진하µç” ë™ì•ˆ 건설ì ì¸ 협력ì� ì§€ì†í•  것임ì� 약ì†í–ˆìŠµë‹ˆë‹¤.

Elliott Investment Management a publié une déclaration concernant les changements de direction chez Southwest Airlines (NYSE:LUV). La société d’investissement a reconnu la décision de Rakesh Gangwal de démissionner de son poste de président de Southwest Airlines, tout en précisant qu’il restera au conseil d’administration. John Pike, associé chez Elliott, et Bobby Xu, gestionnaire de portefeuille, ont exprimé leur gratitude pour le leadership de Gangwal durant ce qu’ils ont décrit comme une période de transformation pour l’entreprise.

Elliott a réaffirmé sa confiance dans la trajectoire de Southwest et s’est engagé à maintenir un dialogue constructif alors que la compagnie aérienne poursuit sa stratégie de création de valeur à long terme.

Elliott Investment Management hat eine Stellungnahme zu den Führungswechseln bei Southwest Airlines (NYSE:LUV) veröffentlicht. Die Investmentfirma würdigte Rakesh Gangwals Entscheidung, als Vorsitzender von Southwest Airlines zurückzutreten, stellte jedoch fest, dass er im Vorstand verbleiben wird. John Pike, Partner bei Elliott, und Portfolio-Manager Bobby Xu drückten ihre Dankbarkeit für Gangwals Führung während einer als transformativ beschriebenen Phase des Unternehmens aus.

Elliott bekräftigte sein Vertrauen in den Kurs von Southwest und erklärte sein Engagement für eine konstruktive Zusammenarbeit, während die Fluggesellschaft ihre langfristige Wertschöpfungsstrategie verfolgt.

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WEST PALM BEACH, Fla. , July 31, 2025 /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott") today released the following statement on behalf of Partner John Pike and Portfolio Manager Bobby Xu regarding Rakesh Gangwal's decision to step down from his role as Chair at Southwest Airlines Co. (NYSE: LUV) (the "Company" or "Southwest"):

We thank Mr. Gangwal for his leadership and contributions as Southwest's independent Chair during a transformational period for the company and we are grateful that he will continue to serve as a member of the Board. We remain confident in Southwest's trajectory and we look forward to continuing our constructive engagement as the Company executes its plan to drive long-term value.

About Elliott

Elliott Investment Management L.P. (together with its affiliates, "Elliott") manages approximately $72.7 billion of assets as of December 31, 2024. Founded in 1977, it is one of the oldest funds under continuous management. The Elliott funds' investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm. 

Media Contact:         
Casey Friedman                                             
Elliott Investment Management L.P.                                     
(212) 478-1780                                              
[email protected]

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SOURCE Elliott Investment Management L.P.

FAQ

Who is stepping down as Chair of Southwest Airlines (LUV)?

Rakesh Gangwal is stepping down as Chair of Southwest Airlines, but will continue to serve as a member of the Board.

What is Elliott Investment Management's stance on Southwest Airlines (LUV)?

Elliott expressed confidence in Southwest's trajectory and plans to continue constructive engagement as the company executes its value creation plan.

Will Rakesh Gangwal remain on Southwest Airlines' Board after stepping down as Chair?

Yes, while stepping down as Chair, Rakesh Gangwal will continue to serve as a member of Southwest Airlines' Board.

What was Elliott's response to the Southwest Airlines chair transition?

Elliott thanked Gangwal for his leadership during Southwest's transformational period and expressed gratitude for his continued Board service.
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