Southwest Airlines Names Doug Brooks Board Chair, Forms Fleet Oversight Committee

Southwest Airlines has appointed Doug Brooks as the new independent chair of its board, effective August 1, 2025, succeeding Rakesh Gangwal, who stepped down due to additional time commitments unrelated to the company but remains on the board. Brooks, a director since 2010 and former CEO of Brinker International, is expected to lead the airline through its ongoing transformation targeting higher-end consumers by ending open seating, dropping the two-free-bag policy, and expanding international flights. Concurrently, Southwest established a new Fleet Oversight Committee, chaired by Gangwal, to oversee the company's aircraft acquisition strategy. The board changes follow a settlement with activist investor Elliott Investment Management, which had already prompted Southwest to add five new directors last year. Analysts maintain a hold rating on Southwest stock with a modest upside price target of around $31, while proprietary metrics suggest a potential growth upside nearing 30%. Despite recent declines in profit and revenue due to softened travel demand, Southwest remains optimistic about its future outlook.