Southwest Airlines has appointed Rakesh Gangwal, co-founder of India’s largest low-cost carrier IndiGo, as the new independent board chair following an agreement with activist investor Elliott Investment Management. This decision follows Gary Kelly’s recent retirement as chairman on November 1. As part of this deal, five new directors chosen by Elliott will join Southwest’s board, aiming to improve governance and financial performance. Gangwal emphasized the board’s focus on enhancing the airline’s financial health, working closely with CEO Bob Jordan to drive the carrier’s performance and deliver value to shareholders.