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Southwest Airlines announced the results of its annual shareholder meeting, confirming that all nominated board members, including five appointed following an agreement with Elliott Investment Management, were approved. The airline also revised its bylaws in line with the Texas Business Organizations Code.
The airline's President and CEO, Bob Jordan, received 21.3 million votes against his reappointment but was still supported by 405 million votes. The shareholders also endorsed the executive compensation plan and ratified Ernst & Young as independent auditors while rejecting a proposed clawback policy.
Elliott Investment Management began acquiring shares in Southwest Airlines in 2024, aiming for a significant stake and proposing changes to improve stock prices. After negotiations, Elliott secured five board seats on November 1, 2024.
