Billionaire and IndiGo co-founder Rakesh Gangwal has been named Chairman of the Board at Southwest Airlines. Gangwal, who joined the board in July and recently acquired $108 million in shares, takes on this leadership role after Southwest resolved strategic matters with Elliott Investment Management, a major shareholder advocating changes.
The airline announced Gangwal’s appointment as independent Chair of the Board on Monday, alongside new Board Committee Chair appointments. In his statement, Gangwal highlighted the board’s focus on working closely with President, CEO, and Vice Chairman Bob Jordan to enhance financial performance and guide Southwest into its next phase of growth.
Recent filings with the US SEC detail Gangwal’s purchase of 3.6 million shares through various transactions at $29 to $30 per share. This investment reflects his commitment to the airline’s success as he steps into a key governance role aimed at reinforcing Southwest’s competitive edge and driving strategic development.
