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Top Southwest shareholder signals support for Elliott Management’s activist campaign

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Top Southwest shareholder signals support for Elliott Management’s activist campaign

Southwest Airlines CEO Bob Jordan speaks as he is interviewed by CNBC outside the New York Stock Exchange on Dec. 9, 2021.

Brendan McDermid | Reuters

A top Southwest Airlines shareholder on Wednesday signaled its support for Elliott Management’s activist campaign to oust CEO Bob Jordan and Executive Chairman Gary Kelly, as the carrier struggles with underperformance compared with some of its rivals.

Artisan Partners‘ Daniel O’Keefe and Michael McKinnon said in a public letter to Southwest’s board that the firm noted Elliott’s Monday campaign launch “with great interest.” The two said Artisan had in recent months told Kelly privately “many of the same points” that Elliott made publicly.

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