Zhitong Finance learned that Southwest Airlines (LUV.US) appointed aviation industry veteran Rakesh Gangwal as the independent chairman of the board of directors on Monday. Under pressure from activist investor Elliott Investment Management, the airline pulled Gangwal onto its board of directors in July. Gangwal is the co-founder of India's largest airline, InterGlobe Aviation, Indigo aircraft carrier.

Last month, Southwest Airlines made larger concessions at the board level to resolve a board dispute with Elliott, and CEO Bob Jordan remained in office. Jordan has received close attention from Elliott in recent months, and the investment company initially requested to replace Jordan and Chairman Gary Kelly.

Southwest Airlines announced an agreement with Elliott last month to appoint new board members and avoid agency disputes. Under the agreement, Kelly will retire early and Jordan will continue as CEO.

According to personnel changes announced last month, Pierre Breber, David Cush, Sarah Feinberg, Dave Grissen, Gregg Saretsky, and Patricia Watson joined the Southwest Airlines board of directors on November 1. Kelly also retired early and assumed the position of Honorary Chairman. Kelly originally planned to retire in 2025.

Elliott also previously agreed to a suspension and information sharing agreement with Southwest Airlines. Elliott, who holds more than 10% of Southwest Airlines, has withdrawn his previous request to hold a special shareholders' meeting on December 10.