Southwest Airlines Appoints Doug Brooks as New Independent Chair, Forms Fleet Oversight Committee.

Southwest Airlines announced governance changes, with Rakesh Gangwal stepping down as independent Chair and Doug Brooks appointed as the new independent Chair. Gangwal will remain on the Board and serve as Chair of the newly formed Fleet Oversight Committee. Brooks has served as a Director of the Company since 2010 and has a proven track record of creating shareholder value.

Southwest Airlines Co. (NYSE: LUV) has announced significant governance changes effective August 1, 2025. Rakesh Gangwal, the current independent Chair, will step down from his role but will remain on the Board. Doug Brooks has been appointed as the new independent Chair [1].

The appointment of Brooks follows Gangwal's decision to step down due to additional time commitments unrelated to Southwest. Gangwal will continue to serve on the Board and will chair the newly formed Ad Hoc Fleet Oversight Committee, which will assist the Board in overseeing the Company's aircraft fleet acquisition strategy [1].

Doug Brooks, who has served as a Director since 2010, brings extensive leadership experience from his former role as Chairman, President, and CEO of Brinker International. During his tenure at AutoZone, Inc., the company achieved a total shareholder return of over 450% [2].

Brooks is deeply honored to serve Southwest during this evolutionary time in the Company's history. The Board is well-positioned to oversee the advancement of the Company's strategic priorities and efforts to deliver superior financial performance. Gangwal expressed his pleasure with the current trajectory and traction of the Company and looks forward to supporting Brooks in his new role [1].

Southwest Airlines continues its business model transformation, carrying more than 140 million customers in 2024. The company operates one of the world's most admired and awarded airlines, offering its unique value and Hospitality at 117 airports across 11 countries [3].

References:
[1] https://www.southwestairlinesinvestorrelations.com/news-and-events/news-releases/2025/07-31-2025-220038684
[2] https://www.stocktitan.net/news/LUV/southwest-airlines-announces-governance-ri5fksf3hnkq.html
[3] https://www.prnewswire.com/news-releases/southwest-airlines-announces-governance-changes-302519094.html