Southwest Airlines (LUV) Appoints Rob Fornaro to its Board

Southwest Airlines Co. (NYSE: LUV) (the "Company") has appointed Robert "Bob" Fornaro as a member of the Board, effective immediately.

Fornaro is an accomplished airline executive with four decades of experience in the industry. He previously served on the Board of Directors of Spirit Airlines beginning in May 2014 until September 2019 and as President and Chief Executive Officer from January 2016 until December 2018, during which time he led the low-cost carrier through a period of substantial growth and transformation. Previously, he was President and Chief Executive Officer of AirTran Holdings Inc. from November 2007 until May 2011. Fornaro served as a consultant to Southwest Airlines from 2011 to 2014 following its acquisition of AirTran in 2011, and again from 2020 to 2024 following his resignation as President and CEO of Spirit Airlines. Prior to his role as CEO of AirTran, he served as President and Chief Operating Officer from March 2001 until November 2007 and President and Chief Financial Officer from March 1999 until August 2000. He also previously served as Chairman of both AirTran Airways Inc. and AirTran Holdings Inc. Before joining AirTran, Fornaro operated a successful aviation consulting practice and served in senior marketing and planning positions at US Airways and Northwest Airlines.

"Bob is an exceptional leader and brings a wealth of industry experience to our Board," said Gary Kelly, Executive Chairman of the Board. "As a former consultant to Southwest, Bob has provided an objective review and important perspective on Southwest's transformation plan, and he has a strong appreciation for Southwest's unique business model and strategic advantages. His deep experience leading multiple airlines will be instrumental as we continue with our Board refreshment plan to add best-in-class Directors who will bring complementary skills and hold our Leadership Team accountable for delivering results."

"Southwest Airlines has both a storied history and tremendous potential," said Fornaro. "I look forward to further collaborating with members of the Board as we guide the Company's Leadership Team in implementing its strategy. I am confident in Bob Jordan and the Leadership Team's ability to execute its transformation plan and deliver improved performance and Shareholder returns."

With Fornaro's appointment, the Company has added ten new highly qualified Directors over the past three years, including the recent appointments of Rakesh Gangwal, co-founder of India's largest airline, InterGlobe Aviation (IndiGo) and previous executive at US Airways Group and United Airlines, and Lisa Atherton, president and CEO of Bell. 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.

You May Also Be Interested In

• After-Hours Movers: ORCL, CRWV, ADBE, ACVA, CPRT, ZUMZ, PMTS, RH
• ARC Group to acquire Malaysia's Firstborn Top Capital in $1.09B deal
• Modine plans to rebrand as Modexus Solutions after Gentherm merger