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Stock impact report

Southwest strikes deal with Elliott, adds six new board members [Fortune]

NCR Atleos Corporation (NATL) 
Company Research Source: Fortune
New board members include former Chevron Corp. CFO Pierre Breber, former Virgin America CEO David Cush, ex-federal railroad administrator Sarah Feinberg, former Marriott International Group President Dave Grissen, ex-WestJet CEO Gregg Saretsky and NCR Atleos Chief Information, Technology Officer Patricia Watson, who all join Nov. 1. The airline also announced that Executive Chairman Gary Kelly will accelerate his retirement and that the reconstituted 13-member board will appoint a new independent chairman. The activist firm agreed to a standstill and information sharing agreement with Southwest. Elliott, which owns a stake of more than 10%, also withdrew a prior request for a special shareholder meeting on Dec. 10. The agreement preserves — for now, at least — the job of CEO Bob Jordan, whom Elliott had been seeking to oust. Elliott had targeted Jordan and Kelly for their poor execution and “stubborn unwillingness to evolve the company's strategy.” They are “not up to the task Show less Read more
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