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0 0 0.00012749681257969 0.00169995750106244 0.00339991500212487 -0.00254993625159366 0 0.000849978750531219
Stock impact report

Hedge fund Elliott calls for vote to replace Southwest Airlines board of directors [CBS News]

American Airlines Group, Inc. (AAL) 
Last american airlines group, inc. earnings: 4/30 07:30 am Check Earnings Report
Company Research Source: CBS News
In a news release Monday, Elliott Investment Management said it wants to hold a vote on Dec. 10. The call for a vote comes weeks after Southwest outlined a series of major changes at an investor conference last month aimed at raising profits, including the end of its longstanding open seating policy and the addition of red-eye flights. Elliott on Monday called the changes long overdue but said new leadership is needed. "Absent a thorough reconstitution of its Board, the story of Southwest will remain one of empty promises and unfulfilled potential," the news release said. "Southwest's shareholders cannot afford to see – yet again – today's new initiatives turn into tomorrow's broken promises." Southwest did not immediately respond to a request for comment. Elliott, which owns 11% of Southwest stock, and airline leadership have been at odds, with Elliott arguing the company has long resisted necessary changes to increase financial performance and stock price. The two sides Show less Read more
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