Elliott Investment Management has initiated a proxy fight with Southwest Airlines, announcing its intention to nominate 10 candidates for the airline's 15-member board. The move comes as Southwest's performance has fallen behind its competitors in the industry.
Southwest Airlines confirmed that it had been attempting to engage with Elliott to address concerns but had been met with resistance. Despite agreeing to a meeting in early September to discuss potential resolutions, Elliott opted to publicly declare its plan to replace a majority of Southwest Airlines' board.
