Southwest Airlines Co. (NYSE: LUV) has appointed Robert "Bob" Fornaro to its board of directors, effective immediately. Fornaro, an accomplished airline executive with four decades of experience in the industry, has a significant track record, having previously served on the board of directors of Spirit Airlines and as president and CEO of the low-cost carrier.
Since Fornaro's appointment, Southwest Airlines has added ten new highly qualified directors over the past three years, including Rakesh Gangwal, co-founder of India's largest airline, and Lisa Atherton, president and CEO of Bell. The company has also announced its next phase of comprehensive board refreshment, including retirements and new appointments, as well as the naming of new committee chairs and a new lead independent director.
Fornaro's appointment follows Southwest Airlines’ recent announcement of its next phase of comprehensive board refreshment, which includes six retirements in November and executive chairman Gary Kelly’s retirement at the 2025 annual meeting, the anticipated appointment of three new independent directors, and the naming of new committee chairs and a new lead independent director.
Fornaro currently serves on the boards of Avianca, Colombia’s largest airline, and WestJet, Canada’s second-largest carrier. Fornaro earned a master’s degree in city and regional planning from Harvard University and a bachelor’s degree in economics from Rutgers College. As a result of these announcements, the company's shares have moved -4.6% on the market, and are now trading at a price of $28.39. Check out the company's full 8-K submission here.
