Southwest Airlines (NYSE:LUV) stock is moving lower on Tuesday. The company announced that its Board of Director’s Executive Chairman Gary Kelly, along with six other Board members, will resign.
The Details: Kelly will resign following the 2025 Annual Meeting and the other six Board members will resign following the November Board meeting.
The other departing Board members include David Biegler, Veronica Biggins, Roy Blunt, William Cunningham, Thomas Gilligan and Jill Soltau. In addition, the Board is eliminating the Executive Committee structure. The Board has now created a Finance Committee which will aid the Board with oversight of financial and operational plans.
The Board anticipates filling the Finance Committee with new and remaining Directors in November along with appointing a new Lead Director and Committee Chairs for each of the Audit, Compensation, and Nominating and Corporate Governance Committees. These resignations and changes to the Board’s structure come following feedback from shareholders.
Elliott Investment Management, a stakeholder in Southwest, said in a press release Tuesday, “We are pleased that the Board is beginning to recognize the degree of change that will be required at Southwest, and we hope to engage with the remaining directors to align on the further necessary changes.”
How To Buy Southwest Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Southwest Airlines (NYSE:LUV)'s case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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LUV Price Action: At the time of writing, Southwest stock is moving 2.89% lower at $28.87 per data from Benzinga Pro.
Image: Photo via Wikimedia Commons
