Investorfond kjøper 11% av Southwest, og krever endringer

[Someone]

Fondet Elliott Investment Management L.P. har kjøpt seg opp til en eierandel på 11% i Southwest, og forsøker tvinge gjennom endringer i styret, ledelsen og strategien.

De nærmest slakter dagens CEO og har generelt lite positivt å si om dagens situasjon og mener Southwest leverer langt under deres potensiale.

https://www.prnewswire.com/news-rele...302168276.html

Elliott Investment Management L.P. ("Elliott"), which manages funds that together have an investment of approximately $1.9 billion in Southwest Airlines Co. (NYSE: LUV) (the "Company" or "Southwest"), today sent a letter to the Board of Directors of Southwest.

The letter substantiates Elliott's view that Southwest's poor execution and leadership's stubborn unwillingness to evolve the Company's strategy have led to deeply disappointing results for shareholders, employees and customers alike.

[Someone]

Link til PDF presentasjonen:

https://strongersouthwest.com/wp-con...t_06102024.pdf

[LN-MOW]

Har lenge syntes at aksjekursen deres har vært lav, og dette tror jeg er gode nyheter. De har gjort en del strategiske feil og gudene vet hvor mye de har tapt på Hawaii ..

Så da havnet det noen LUV-aksjer i portefølen min ....

[Someone]

En annen investorgruppe er også på banen her og krever endringer.

https://www.businesstravelnews.com/P...-Restructuring

Investment firm Artisan Partners on Wednesday urged Southwest Airlines "to reconstitute itself" and to "upgrade the company's leadership," in a letter sent to the carrier's board of directors and included in a press release, adding "this process needs to commence immediately."

[Someone]

Da har de foreslått et nytt styre. Samtidig hevder Southwest at Elliott nekter å inngå en dialog rundt dette, så virker som frontene er ganske låst.

https://www.ch-aviation.com/news/143...-board-members

Elliott Investment Management L.P. intends to file a proxy statement with the US Securities and Exchange Commission and has named ten candidates for the board of Southwest Airlines (WN, Dallas Love Field) as it steps up its campaign against the carrier.

Southwest says it has tried to constructively engage with Elliott since it launched its campaign. "Elliott has dismissed those efforts at every turn," an August 14 statement from the airline reads. Southwest says that it had scheduled a meeting with Elliott in September to discuss board and governance changes, but "Elliott unilaterally decided instead to publicly announce its intention to replace a majority of Southwest Airlines' board."

[Someone]

Det blir i hvertfall store utskiftninger i styret fremover.

https://www.ch-aviation.com/news/144...g-with-elliott

Gary C Kelly, executive chairman of the board of directors at Southwest Airlines (WN, Dallas Love Field), has announced his retirement, effective immediately after the company’s annual meeting next year. The decision follows a meeting held on September 9 with Elliott Investment Management, an activist investor firm that was invited to participate in “refreshment efforts and other corporate governance changes,” the airline said in an announcement on September 10.

In addition to Kelly, six current directors have announced plans to voluntarily step down this coming November: David Biegler (Compensation Committee chairman), Veronica Biggins (Nominating and Corporate Governance Committee chair), Senator Roy Blunt, William Cunningham (lead director), Thomas Gilligan (Audit Committee chairman), and Jill Soltau. A new board will be elected afterwards, but it was not disclosed if this new board would include any Elliott-backed candidates for the board.

[Someone]

Elliott er fortsatt misfornøyde, også etter Southwest sine annonserte endringer.

https://www.airwaysmag.com/new-post/...outhwest-plans

Elliott Issues Scathing Response to Southwest's Plans

[Desk pilot]

Elliott er vel et aktivist-fond som ikke pleier å gi seg så lett. Jeg regner med at dette kan bli en føljetong frem til de får viljen sin.