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Southwest Airlines CEO says he won't resign. A hedge fund is trying to get him fired

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The CEO of Southwest Airlines says he is not resigning in the face of pressure from a hedge fund that wants him fired. CEO Robert Jordan said on Wednesday that his leadership team is producing its own plan for improving Southwest's financial performance. Elliott Investment Management has said it bought a $1.

FILE - Robert Jordan, incoming Southwest Airlines CEO, is interviewed outside the New York Stock Exchange, Dec. 9, 2021. The CEO of Southwest Airlines said Wednesday, June 12, 2024, that he will not resign in the face of pressure from a hedge fund that wants him fired and that his leadership team will produce its own plan to boost the airline’s financial performance. said Southwest will present its plan in September.

Elliott accused Southwest leadership of failing to change with evolving customer tastes, causing it to lag behind rivals. The hedge fund noted that Southwest’s share price has fallen more than 50% over the past three years. “Elliott can provide us ideas. They can talk to other shareholders, but Elliott is not directing the company,” he said.massive flight cancellations

 

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