Southwest Adds IndiGo Co-Founder to Board in Latest Line of Defense Against Elliott
Skift Take
Gangwal’s appointment comes after activist investor Elliott criticized the airline’s board for not having enough directors with external airline experience.
Southwest Airlines announced Monday it is adding longtime airline executive and IndiGo co-founder Rakesh Gangwal to its board of directors.
The move appears to be the airline’s latest defense from hedge fund Elliott Investment Management, which took a $1.9 billion activist stake in the company. Elliott has previously criticized Southwest’s board for not having enough external airline experience.
Gangwal was
