Rakesh Gangwal Appointed Chair of Southwest Airlines Board
Indian businessman Rakesh Gangwal, co-founder of IndiGo, has been appointed as the independent Chair of the Southwest Airlines board of directors, succeeding Gary Kelly, who has held the position since 2008. Kelly took over the dual roles of Chairman and CEO from Southwest’s co-founder, Herb Kelleher.
This leadership change comes in the wake of a significant reshuffling of the airline’s board, a move prompted by investment fund Elliott Investment Management after acquiring a substantial equity stake in Southwest. Elliott has criticized the airline’s current management for underperforming compared to industry peers, leading to demands for a board overhaul.
In response to Elliott’s activism, Southwest agreed to appoint several new board members, the majority of whom were proposed by the investment firm. Gangwal’s extensive experience in the airline industry, including senior roles at United Airlines, Air France, and US Airways, positions him to effectively guide Southwest through its transformation.
Gangwal’s background includes serving as President and CEO of US Airways Group from 1998 to 2001, prior to its acquisition by American Airlines in 2013. He co-founded IndiGo Airlines in 2006, which has grown into one of the largest airlines in the world, operating nearly 400 aircraft with orders for almost 1,000 more.
As Chair of Southwest Airlines, Gangwal will oversee the implementation of the airline’s transformation plan, aimed at streamlining operations and enhancing ancillary revenue and profitability. This strategic focus reflects a critical juncture for Southwest as it seeks to adapt to the evolving demands of the aviation market.
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