Southwest Chairman Kelly to step down subsequent 12 months as activist Elliott pushes for adjustments on the airline

A Southwest Airlines aircraft takes off from Hollywood Burbank Airport in Burbank, California, above other Southwest aircraft on July 25, 2024.

Mario Tama |

Southwest Airlines Chairman and former CEO Gary Kelly said Tuesday he will step down next year, a move that comes as activist investor Elliott Investment Management is putting pressure on the airline to make changes.

Kelly, who has worked for Southwest for nearly four decades, announced his resignation hours after meeting with Elliott, who had called for a change in leadership at the Dallas-based airline.

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