Southwest Airlines Names Rakesh Gangwal Independent Chair

(RTTNews) - Southwest Airlines Co. (LUV) announced Monday the appointment of Rakesh Gangwal as independent Chair of the Board of Directors and named new Board Committee Chairs, effective immediately.

As per the new changes, Lisa Atherton will serve as Chair of the Compensation Committee, and Douglas Brooks as Chair of the Audit Committee.

David Hess will continue to serve as Chair of the Safety and Operations Committee, while Chris Reynolds will serve as Chair of the Nominating and Corporate Governance Committee, and Gregg Saretsky will serve as Chair of the Finance Committee.

Gangwal said, "We are embarking on the next era of change at Southwest as we build upon its many successes and storied past. Our critical priority as a newly constituted Board is to come together to work closely with Bob Jordan and the rest of the management team to return the carrier to superior financial performance."