Southwest settles proxy fight with hedge fund as Q3 profit shrinks
DALLAS, Texas: Southwest Airlines has settled a months-long proxy battle with hedge fund Elliott Investment Management by agreeing to overhaul its board of directors.
The settlement, announced last week, will see Chairman Gary Kelly and six other current board members step down on November 1 to be replaced by five Elliott-backed candidates and a former Chevron executive.
Elliott, led by billionaire financie