New York CNN —
Elliott Investment Management announced Monday it has taken a $1.9 billion stake in Southwest Airlines and said there needs to be new leadership at the Dallas-based carrier.
“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,” said the statement from the firm. “Southwest’s rigid commitment to a decades-old approach has inhibited its ability to compete in the modern airline industry.”
The letter pointed out that Southwest’s share price is down more than 50% from early 2021 and
→ Continue reading at CNN - Business News
