Southwest Airlines Appoints Rakesh Gangwal to Board

Southwest Airlines has appointed Rakesh Gangwal, a seasoned aviation executive with experience at InterGlobe Aviation and US Airways, to its board of directors amid pressure from activist investor Elliott for leadership and strategic changes. Gangwal's background in travel technology is seen as beneficial for Southwest's operational enhancements. Elliott Investment Management, holding an 11% stake in Southwest, has urged for board diversification and leadership alterations due to financial concerns. Southwest's adoption of a 'poison pill' strategy and the appointment of Gangwal reflect efforts to address investor demands and bolster performance in the face of activist pressure, showcasing a balancing act between governance reforms and growth initiatives in response to market dynamics.