DALLAS – Southwest Airlines will revamp its board of directors, and longtime Chairman Gary Kelly will retire next year, the company announced Tuesday morning.

Executive Chairman Gary Kelly plans to retire as part of a shake-up of the airline’s board, under pressure from activist investor Elliott Management.

The airline has been under pressure from the hedge fund Elliott to replace its top management and make other changes to increase its profits.

Southwest Airlines is changing its board of directors as the Dallas-based airline faces pressure from an activist investor and the need to be profitable for its shareholders. On Monday, Southwest announced its executive chairman Gary Kelly would not run for reelection in 2025 and six board members would resign after a quarterly board meeting in November.

A longtime Southwest Airlines company executive said Tuesday amid a board shakeup and changes to the carrier by an activist investor group that he will retire next year from his role after nearly 40 years with Southwest.