Southwest Airlines revealed the latest changes to its Board of Directors on Monday, appointing Rakesh Gangwal to the role of independent Chair of the Board of Directors.
The low-cost airline also named new Board Committee Chairs, including:
- Lisa Atherton as Chair of the Compensation Committee
- Douglas Brooks as Chair of the Audit Committee
- David Hess remains as Chair of the Safety and Operations Committee
- Chris Reynolds as Chair of the Nominating and Corporate Governance Committee
- Gregg Saretsky as Chair of the Finance Committee
The news comes just days after Southwest announced a restructuring of its board following a deal reached with investor Elliott Management.
"We are embarking on the next era of change at Southwest as we build upon its many successes and storied past. Our critical priority as a newly constituted board is to come together to work closely with Bob Jordan and the rest of the management team to return the carrier to superior financial performance," Gangwal said in a statement.
"On behalf of the entire company, I look forward to working with our new board as we execute our plan and deliver for our shareholders," added Southwest President, CEO and board vice chairman Bob Jordan. "I especially want to thank our people for their unwavering commitment to each other and to providing exceptional service to our customers."
"Our people are at the heart of Southwest’s culture and what separates us from the competition."
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