SOUTHWEST AIRLINES ANNOUNCES REALIGNMENT OF BOARD SIZE

Rhea-AI Summary

Southwest Airlines (NYSE: LUV) announced that Directors David Cush and Gregg Saretsky will step off the Board effective Feb. 23, 2026. The company said the Board intends to reduce its size from 13 to 11 members. Bob Jordan thanked both directors for their service during a period of company transformation.

Positive

• Board size will be reduced from 13 to 11 members
• Departures effective Feb. 23, 2026 provide a defined timeline for transition

Negative

• Two directors, David Cush and Gregg Saretsky, are leaving the Board
• Board composition will change, requiring replacement or role adjustments

Key Figures

Board size reduction: from 13 to 11 directors Effective resignation date: Feb 23, 2026 Transformation year: 2025

3 metrics

Board size reduction from 13 to 11 directors Planned realignment following departures of Cush and Saretsky

Effective resignation date Feb 23, 2026 Directors Cush and Saretsky stepping off the Board

Transformation year 2025 Described as a year of remarkable transformation for Southwest

Market Reality Check

Price: $54.07 Vol: Volume 8,451,217 vs 20-da...

normal vol

$54.07 Last Close

Volume Volume 8,451,217 vs 20-day avg 10,967,452 (relative volume 0.77) ahead of the board update. normal

Technical Shares at $54.07, trading above the 200-day MA of $34.73, near the 52-week high of $54.70.

Peers on Argus

LUV was down 1.66% while key peers were mixed: DAL (-0.23%), UAL (+0.56%), AAL (...

LUV was down 1.66% while key peers were mixed: DAL (-0.23%), UAL (+0.56%), AAL (+1.00%), ALK (-1.25%), SKYW (+1.01%), indicating stock-specific factors rather than a unified airlines move.

Historical Context

5 past events · Latest: Feb 05 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 05	Dividend declaration	Positive	-0.1%	Announced 188th quarterly cash dividend of $0.18 per share.
Jan 28	Earnings results	Positive	-1.2%	Reported 2025 net income and guided 2026 adjusted EPS of at least $4.00.
Jan 28	Earnings webcast	Neutral	-1.2%	Scheduled webcast to discuss Q4 and full-year 2025 financial results.
Jan 23	Earnings call notice	Neutral	-1.1%	Announced timing and access details for Q4 and 2025 results call.
Jan 15	Peer company results	Neutral	+1.3%	Galaxy Digital scheduled webcast for its Q4 and full-year 2025 results.

Pattern Detected

Recent positive financial and dividend announcements saw mild negative price reactions, suggesting a tendency for the stock to soften around ostensibly favorable news.

Recent Company History

Over the past month, Southwest issued several shareholder-focused updates, including a $0.18 quarterly dividend on Feb 5, 2026 and detailed 2025 results with $441M net income and 2026 EPS guidance of at least $4.00. Despite these positive financial signals, shares slipped modestly after each release. Today’s board realignment follows this period of transformation-focused communication and governance- and ownership-related SEC filings, fitting into a broader reshaping narrative.

Market Pulse Summary

This announcement centers on governance, with two directors stepping down and the Board shrinking fr...

Analysis

This announcement centers on governance, with two directors stepping down and the Board shrinking from 13 to 11 members effective Feb 23, 2026. It follows a year the company characterized as transformational, alongside recent earnings, dividend declarations, and significant shareholder filings. Investors may watch how board composition evolves and how governance changes align with previously outlined profitability and strategic initiatives.

AI-generated analysis. Not financial advice.

DALLAS, Feb. 10, 2026 /PRNewswire/ -- Southwest Airlines (NYSE: LUV) today announced that Directors David Cush and Gregg Saretsky have informed the Company that they are stepping off the Board effective Feb. 23, 2026.

"2025 was a year of remarkable transformation at Southwest Airlines, and my sincere thanks go out to both David and Gregg for their valuable contributions and dedicated service on the Board. Their participation came during an important period for the Company and helped Southwest position itself for long-term success," said Bob Jordan, President, Chief Executive Officer, and Vice Chairman of the Board. 

The Company further said that in connection with the departures of Cush and Saretsky, the Board intends to reduce its size from 13 to 11 members. 

ABOUT SOUTHWEST AIRLINES CO.
Southwest Airlines Co. operates one of the world's most admired and awarded airlines, offering its one-of-a-kind value and Hospitality at 118 airports across 11 countries. Southwest took flight in 1971 to democratize the sky through friendly, reliable, and low-cost air travel and now carries more air travelers flying nonstop within the United States than any other airline¹. By empowering its more than 72,000² People to deliver unparalleled Hospitality, the maverick airline cherishes a passionate loyalty among more than 134 million Customers carried in 2025. Southwest leverages a unique legacy and mission to serve communities around the world including harnessing the power of its People and Purpose to put communities at the Heart of its success. Learn more by visiting Southwest.com/citizenship.

1. Based on U.S. Dept. of Transportation quarterly Airline Origin & Destination Survey as of Q1 2025
2. Fulltime-equivalent active Employees as of Dec. 31, 2025

 

View original content:https://www.prnewswire.com/news-releases/southwest-airlines-announces-realignment-of-board-size-302684317.html

SOURCE Southwest Airlines Co.

FAQ

When do David Cush and Gregg Saretsky leave the Southwest Airlines board (LUV)?

They step off the Board effective Feb. 23, 2026. According to the company, both directors informed the company and their departures have a firm effective date set for that day.

How many board members will Southwest Airlines (LUV) have after the realignment?

The Board intends to reduce its size to 11 members. According to the company, the reduction reflects the departures of Cush and Saretsky and adjusts the Board from 13 to 11 members.

Who announced the departures of the two Southwest Airlines (LUV) directors?

The company announced the departures and quoted CEO Bob Jordan thanking them. According to the company, Bob Jordan acknowledged their contributions during a transformative 2025 for Southwest.

What immediate impact does the Feb. 23, 2026 board change have for LUV shareholders?

Immediate impact is limited to board composition and governance timing. According to the company, the changes are a planned realignment tied to the directors' departures and a Board size reduction.