Media Mentions
MarketWatch Quotes Benesch Partner Aslam Rawoof on Southwest Airline Changes
March 14, 2025
Benesch Corporate & Securities Partner Aslam Rawoof was quoted in a recent article published in MarketWatch on Southwest Airlines recently announcing that it would start charging customers for checked bags, a move influenced by months of pressure from hedge fund Elliott Management, which acquired a $1.9 billion stake in the airline. Elliott Management, led by billionaire Paul Singer, is part of a resurgence of activist investors aggressively demanding changes to boost stock prices.
These investors often face resistance from existing management, as noted by Aslam, who emphasized that “management inherently knows the company better than an outsider, while activist investors may not understand the culture of a business.” Aslam also pointed out that critics believe activist investors “push for short-term decisions at the expense of the long-term health of a company, harming its relationship with stakeholders like employees and customers.” He also mentioned that “usually things are handled quietly through a process before it goes public. Some [activists] just want a board seat for a person who’ll push for different strategies.” Despite these challenges, activist campaigns have led to significant changes, including CEO resignations, board seats, and proactive measures by companies to fend off activist complaints.
You can read the full article on MarketWatch here.
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