Elliott Investment Management , Takes $1.9 Billion Stake in Southwest Airlines.<br />The firm made the announcement <br />on June 10, CNN reports. .<br />It also said Southwest needs new leadership.<br />Southwest’s poor execution and leadership’s <br />stubborn unwillingness to evolve the <br />company’s strategy have led to deeply <br />disappointing results for shareholders, <br />employees and customers alike, Elliott Investment Management, via statement.<br />Southwest’s rigid commitment <br />to a decades-old approach has <br />inhibited its ability to compete <br />in the modern airline industry, Elliott Investment Management, via statement.<br />The airline's stock increased over 6% <br />following the news on June 10.<br />While Elliott didn't give specific details about the changes it would like to implement, .<br />it did say that it wants to provide <br />"increased customer choice, improved cost execution and updating outdated IT systems, among other opportunities.".<br />Southwest, which was only contacted by the firm <br />on June 9, said it is looking "forward to better understanding their views on our company.".<br />The Southwest board of directors is confident <br />in our CEO and management’s ability to <br />execute against the company’s strategic plan.., Southwest Airlines, via statement.<br />... to drive long-term value for all <br />shareholders, safely and reliably serve <br />our customers and deliver on our <br />commitments to all of our stakeholders, Southwest Airlines, via statement.<br />Elliot Investment Management was <br />founded in 1977 and is based in Florida.<br />According to its website, the <br />firm was managing approximately <br />$65.5 billion in assets by the end of 2023
