( ) -q-21- UNDATED (Correspondent Jeremy House) “board of directors.” A hedge fund that’s been urging Southwest Airlines to dump its CEO and chairman says it has acquired enough of the company’s stock to call a special meeting of shareholders. [CutID: <Cuts> ELLIOTT-SOUTHWEST-house-q-WEDam.mp3 Time: 21s Title: ELLIOTT-SOUTHWEST-house-q-WEDam Out-cue: board of directors] TAG: Correspondent Jeremy House […]
Audio
Hedge fund Elliott Investment Management steps up pressure on Southwest Airlines’ management
( ) -q-21- UNDATED (Correspondent Jeremy House) “board of directors.”
A hedge fund that’s been urging Southwest Airlines to dump its CEO and chairman says it has acquired enough of the company’s stock to call a special meeting of shareholders.
[CutID: <Cuts> ELLIOTT-SOUTHWEST-house-q-WEDam.mp3
Time: 21s
Title: ELLIOTT-SOUTHWEST-house-q-WEDam
Out-cue: board of directors]
TAG: Correspondent Jeremy House reporting. Elliott blames Southwest’s leadership for a sharp drop in Southwest’s stock price over the last three years.
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VERBATIM: The move gives Elliott Investment Management more leverage in its proxy fight heading into a meeting with Southwest officials next week. The hedge fund said in a regulatory filing that it now owns at least 10% of Southwest’s stock. That gives it the ability to call for a special meeting where shareholders could consider candidates for the airline’s board of directors.