Southwest Airlines has added a new member to its board of directors, just as an activist investor has asked the company to shake up leadership.
Effective July 7, Rakesh Gangwal, co-founder of InterGlobe Aviation, also known as IndiGo, India’s largest airline by fleet size and passengers carried, will be a member of Southwest’s board. Before that he was chairman, president and CEO of Worldspan Technologies in 2006 and was president and CEO of US Airways. He was also an executive at Air France and United Airlines.
“I am delighted to welcome Rakesh, who brings to our board decades of valuable experience as an executive and entrepreneur at some of the world’s leading airlines,” said Gary Kelly, executive chairman of Southwest’s board. “Having co-founded IndiGo and grown it into India’s largest airline, Rakesh knows the importance of building a business that has both a distinct culture and enduring profitability.”
The announcement comes when Southwest’s leadership has been under fire from activist investor Elliott Investment Management, which asked for the removal of leaders like Southwest CEO Bob Jordan and Kelly. Last week, Southwest adopted a “poison pill” plan to attempt to thwart Elliott from having more influence over the company.
Gangwal has also served on boards like US Airways, CarMax, Office Depot, OfficeMax and PetSmart. He received a bachelor’s degree from the Indian Institute of Technology and an MBA from The Wharton School at the University of Pennsylvania.
Southwest has appointed eight new independent board members over the last three years.
