Southwest Airlines (WN) announced Monday (November 5, 2024) the appointment of Rakesh Gangwal, co-founder of India’s largest low-cost carrier IndiGo Airlines (6E), as its new independent board chair.
Southwest Elects Rakesh Gangwal
Southwest Airlines (WN) executed a major board restructuring by appointing six new directors through an agreement with Elliott Investment Management.
Elliott requested Special Meeting of Shareholders to consider removing eight Southwest Airlines Board members and electing eight candidates.
Rakesh Gangwal, Southwest Airlines (WN) director, has invested over $100 million in the company by purchasing 3.6 million shares.
The Board of Directors of Southwest Airlines (WN) has appointed Rakesh Gangwal, co-founder of IndiGo (6E) as a member, effective July 7.