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Southwest CEO vows change as activist investor pushes for new leadership

·1 min

Southwest Airlines CEO stated the company is prepared to adapt to changing customer trends like premium seating in response to an activist investor’s mounting pressure. The comments came after hedge fund Elliott Management disclosed a significant stake in Southwest and called for a new CEO and chairman. Southwest had previously mentioned considering changes to its well-known business model and is now open to major shifts to increase revenue. The airline is facing competition from rivals who are capitalizing on customers willing to pay more for added perks.