Southwest Airlines CFO Tammy Romo to Retire

DALLAS — Southwest Airlines (WN) Chief Financial Officer Tammy Romo will retire after over thirty years. She is the latest departure from the airline's old guard, and the new board is now searching for her successor.

The airline announced Thursday that Romo, who joined the Dallas company in 1991 and has been executive vice president and CFO since September 2012, will retire on April 1.

Romo’s resignation follows significant leadership and governance changes that started in September last year. That month, WN announced that its Executive Chairman, Gary Kelly, a 38-year WN veteran, would soon retire.

The airline also declared plans to refresh its Board, with six directors, including key figures such as David Biegler and Veronica Biggins, set to retire before the yearend.

During this pivotal time, WN announced a three-year plan to modernize its operations and boost profitability. The "Southwest. Even Better." initiative, unveiled at the company's Investor Day in Dallas, outlined significant changes to the airline's traditional model.

These changes were happening while the carrier was still embroiled in a months-long shareholder roe with activist investor Elliot Investment Management (EIM).

Finally, at the end of October, WN announced the appointments of EIM leaders David Cush, Sarah Feinberg, Dave Grissen, Gregg Saretsky, and Patricia Watson as independent directors of the Board. Pierre Breber, Chevron's former chief financial officer, was also appointed to the Board of Directors.

Tammy Romo's exit follows Kelly's accelerated retirement and those of the six aforementioned Directors on November 1, 2024.

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