Southwest Airlines CEO Bob Jordan said Wednesday he has no intention of stepping down despite pressure from activist Elliott Investment Management.
Jordan, who has served as the carrier’s CEO since February 2022, made the comment on Wednesday while speaking with journalists after an industry-related event.
Jordan has received harsh criticism from Elliott, which earlier this week urged Southwest to replace him and Executive Chairman Gary Kelly with new leaders from outside the company.
SOUTHWEST SHARES JUMP AFTER ACTIVIST ELLIOTT BUYS $2B STAKE
It also said Southwest should conduct a “comprehensive business review” and take other actions to improve the carrier’s financial performance.Â
FOX Business reached out to Southwest for comment.
SOUTHWEST AIRLINES TICKET PRICES NOW APPEAR ON GOOGLE FLIGHTS
The carrier earlier this week stood by its leadership, saying it was “confident in our CEO and the Leadership Team’s ability to fulfill our strategy to drive long-term value for all Shareholders, safely and reliably serve our Customers, create new and exciting career opportunities for our Employees and serve the interests of all stakeholders.”
Southwest also said it believed the carrier “has the right strategy, the right plan and the right team in place to drive long-term value for our shareholders.”
SOUTHWEST CEO SAYS AIRLINE MULLING CHANGES TO ITS OPEN SEATING POLICY
Jordan said Southwest “want[s] to understand what their ideas are” and will “sit down and listen to” Elliott, according to Reuters.
Read the full article here
