Elliott Management said Tuesday it will call a special meeting at Southwest Airlines "as soon as next week," shortly after the company put forward a sweeping board shakeup that it hoped might stave off a proxy fight.
The push comes days before the airline's investor meeting, where it is expected to unveil improvements and operating changes.
Southwest's shareholder meeting is typically scheduled for May, but by calling for a special meeting Elliott is looking to elect new directors much sooner than that.
Earlier this month, executive chairman and former CEO Gary Kelly said he would step down after the carrier's shareholder meeting next year.
"The need for change is urgent, and our request for a special meeting may come as soon as next week," Pike and Xu said.
Persons:
Elliott, Bob Jordan, Gary Kelly, John Pike, Bobby Xu, Pike, Xu, Andrew Watterson, Robert Jordan
Organizations:
Elliott Management, Southwest Airlines, Airlines, Aircraft Mechanics Fraternal Association