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Southwest Airlines Executive Chairman Gary Kelly announced on Tuesday that he will retire after the carrier’s annual meeting next year.
Six current directors informed the board of their plans to voluntarily step down immediately after the company’s regularly scheduled board meeting in November.
The board, meanwhile, reiterated its support for CEO Bob Jordan, who took the reins of the airline after Kelly stepped down from the role after 18 years in 2022.
The news comes as the Dallas-based carrier faces growing pressure from activist investor Elliott Investment Management to make sweeping changes, including at the board level.
The investment firm has called for a “comprehensive” review of Southwest’s business and continues to increase its stake in the carrier.
As part of Elliott’s push for a business review, it said the airline has “written off key commercial innovations and revenue opportunities across the airline industry” in the past, like checked bag fees.
FOX Business’ Aislinn Murphy contributed to this report
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