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 Companys Leadership Team in implementing its strategy. I am confident in Bob Jordan and the Leadership Teams ability to execute its transformation plan and
deliver improved performance and Shareholder returns.
With Fornaros 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 Indias largest airline, InterGlobe Aviation (IndiGo) and previous executive at US Airways Group and
United Airlines, and Lisa Atherton, president and CEO of Bell. Fornaros appointment follows Southwest Airlines recent announcement of its next phase of comprehensive Board refreshment, which includes six retirements in
November and Executive Chairman Gary Kellys 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, Colombias largest airline, and WestJet, Canadas second-largest carrier. Fornaro earned a
masters degree in city and regional planning from Harvard University and a bachelors degree in economics from Rutgers College.
Cautionary Statement Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934 (the Exchange
Act). Specific forward-looking statements include, without limitation, statements related to
the Companys focus areas, goals, strategies, and initiatives, including with respect to transforming the business, improving performance, and Shareholder returns. These forward-looking statements are based on the Companys current
estimates, intentions, beliefs, expectations, goals, strategies, and projections for the future and are not guarantees of future performance. Forward-looking statements involve risks, uncertainties, assumptions, and other factors that are difficult
to predict and that could cause actual results to vary materially from those expressed in or indicated by them. Factors include, among others, (i) the impact of fears or actual outbreaks of diseases, extreme or severe weather and natural
disasters, actions of competitors, consumer perception, economic conditions, fuel prices, banking conditions, fears or actual acts of terrorism or war, sociodemographic trends, and other factors beyond the Companys
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