DALLAS , Aug. 14, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV ) (the "Company") has the following response to an announcement made by one of its Shareholders, Elliott Investment Management L.
P. ("Elliott"), stating its intention to replace a majority of the Southwest Airlines Board of Directors by nominating 10 candidates. Since Elliott launched its campaign against Southwest Airlines, the Board has consistently sought to engage constructively and in the best interests of all Shareholders.
Elliott has dismissed those efforts at every turn. After Elliott recently agreed to a meeting with Southwest Airlines in early September to discuss a collaborative resolution, including continuing significant Board refreshment and other governance enhancements, Elliott unilaterally decided instead to publicly announce its intention to replace a majority of Southwest Airlines' Board. The Southwest Airlines Board and Executive Leadership Team remain open to conversations with Elliott to discuss ideas to drive Shareholder value, and the Board will evaluate Elliott's proposed nominees as part of its ongoing Board refreshment process.
No immediate action is required of Shareholders. Southwest Airlines is laser-focused on restoring its industry-leading financial performance and on building a sustainable and profitable future for the airline and all of its Shareholders. The airline recently announced several initiatives to elevate the Customer Experience, improve financial performance, .