Elliott is seeking to oust the airline's CEO Bob Jordan and executive chairman Gary Kelly, which Artisan also signaled support for.
Artisan Partners, one of Southwest's biggest shareholders, said on Wednesday that it agreed with many of activist Elliott's demands at the airline.
The public letter from Artisan comes two days after Elliott first revealed it had a $1.9 billion economic interest in the airline.Southwest Airlines CEO Bob Jordan speaks as he is interviewed by CNBC outside the New York Stock Exchange on Dec. 9, 2021.' Daniel O'Keefe and Michael McKinnon said in a letter to Southwest's board that the firm noted Elliott's Monday campaign launch "with great interest.
Artisan, a $158.6 billion asset manager, owns a 1.8% stake in Southwest, making it the 10th-largest shareholder of record. It has held a stake in the airline on-and-off since 2001, according to FactSet data, amassing its current holdings beginning in 2020.Elliott has an economic interest in Southwest worth $1.9 billion and is seeking a comprehensive business review in addition to the ouster of Jordan and Kelly.
Breaking News: Technology Technology Breaking News Southwest Airlines Co Gary C. Kelly Artisan Partners Asset Management Inc Breaking News: Business Transportation Airlines Business Business News
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