The second largest shareholder of Southwest Airlines is calling for special meeting of shareholders to vote on its slate of eight new directors, which would represent a majority of the struggling airline’s board. Elliott Management, which has been highly critical of Southwest in recent months, is pushing for leadership changes and an overhaul of the company’s strategy. Southwest has responded by making some changes, but not enough to appease the fund, which is led by billionaire investor Paul Singer. The hedge fund recently acquired a stake of 11% in the struggling airline and on Monday called for the meeting to be held on Dec. 10.
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