Elliot Investment Management L.P.
Elliott Investment Management L.P., which holds an 11% economic interest in Southwest Airlines, announced its intention to nominate ten independent candidates to the airline’s board of directors, including David Cush, former interim CEO of Service King Paint & Body.
The move aims to address the airline’s declining performance and restore its industry-leading position.
Elliott has outlined three key steps for Southwest’s recovery: reconstituting the board, installing new leadership, and conducting a comprehensive business review. The firm emphasized the urgency of these changes, citing continued deterioration in Southwest’s performance since June 10.
Cush brings leadership experience from his time as interim CEO of Service King Collision Repair Centers prior to its merger with Crash Champions. Under his leadership, the company navigated significant industry challenges and achieved notable growth.
He also brings 30 years of aviation experience, including nine years as CEO of Virgin America and two decades of experience at American Airlines in various operational, sales, and network planning roles.
The other nominated candidates include four former airline CEOs and Deputy CEOs, along with six experts in technology, hospitality, consumer-focused businesses, labor relations, and regulatory oversight. Notable nominees include Michael Cawley, former deputy CEO of Ryanair.
Elliott believes these candidates will provide the expertise and fresh thinking needed to improve Southwest’s performance and accountability. The current board has been criticized for poor returns and lack of relevant experience.
