Hedge Fund Elliott Management Discloses $1.9 Billion Stake in Southwest Airlines, Pushes for Leadership Changes

Activist hedge fund Elliott Management has disclosed a $1.9 billion stake in Southwest Airlines, pushing for leadership changes amid challenges like Boeing’s 737 Max delays. Elliott aims to replace CEO Bob Jordan and Chairman Gary Kelly, citing Southwest’s decline. Despite Southwest’s confidence in current leadership, Elliott emphasizes the need for immediate action to address performance issues and highlights COO Andrew Watterson as a valuable asset. With Southwest’s stock declining over 50% in three years, Elliott’s influence on potential leadership changes and strategic direction is closely watched.