WASHINGTON (dpa-AFX) - Southwest Airlines Co. (LUV) announced that Rakesh Gangwal will step down as Chair of the Board effective August 1, 2025, citing increased time commitments unrelated to the airline. Doug Brooks has been appointed as the new independent Chair, also effective August 1, 2025.
The company also announced the formation of a new Fleet Oversight Committee to assist the Board in its oversight of the Company's aircraft fleet acquisition strategy. Gangwal will serve as Chair of the newly formed Fleet Oversight Committee and continue to serve on the Finance Committee and the Nominating & Corporate Governance Committee.
In a separate press release, Elliott expressed appreciation for Rakesh Gangwal's leadership and contributions as independent Chair of Southwest Airlines during a pivotal phase in the company's evolution. Elliott acknowledged his ongoing role as a Board member and affirmed confidence in Southwest's strategic direction. Elliott emphasized a commitment to continued constructive engagement as the airline advances its long-term value creation plan.
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