Southwest Airlines executive vice president and chief transformation officer Ryan Green on April 1 will step down from his position, according to a U.S. Securities and Exchange Commission filing.
Green on Feb. 18 informed Southwest of his decision to depart, according to the filing.
Green joined Southwest in 2002 and had been in his current position since July 2024, according to his LinkedIn profile. He served as chief commercial officer from October 2022 to July 2024, and before was chief marketing officer for nearly seven years.
Southwest did not immediately respond to a request for additional information.
The SEC filing also included an amendment to Southwest's Oct. 23, 2024, cooperation agreement with Elliott Investment Management that effective Feb. 19 allows Elliott to acquire up to a 19.9% stake in the carrier, up from a previous limit of 14.9%.
Elliott last summer and fall threatened a proxy battle and pressured Southwest to update its board and oust president and CEO Bob Jordan. The parties came to an agreement in October, which included the appointment of six new board members and the earlier-than-planned departure from the board of former CEO Gary Kelly. Jordan retained his position.
Green's departure and Elliott's ability to increase its stake come two days after Southwest announced it would eliminate 15% of its corporate workforce, totaling about 1,750 positions. Eleven members of Southwest's senior leadership are included in that total, though Green is not among them, according to Southwest. The "decision is unprecedented in our 53-year history," Jordan wrote in a statement announcing the downsizing.
Source: Business Travel News