Southwest Airlines CEO Bob Jordan and executive chairman Gary Kelly would be long gone by now if one vocal activist investor had its way, one of the airline’s unions told members this week.

“... Elliott advised that its preference would be for board chair Gary Kelly to exit his position sooner than the announced departure at next spring’s shareholder meeting,” the memo, signed by Bret Oestreich, national president of the Aircraft Mechanics Fraternal Association said. “Elliott was also clear that its vision of a Southwest turnaround is one where Robert Jordan does not remain as CEO, and if Elliott can assert enough board influence, other top executives would also, most likely, be replaced.”

According to the Aircraft Mechanics Fraternal Association — the union representing workgroups including mechanics, inspectors, controllers, training instructors, facilities maintenance technicians and appearance technicians, or about 3,307 employees at Southwest — the union met Sept. 12 with Elliott Investment Management, the activist investor with an 11% economic interest in the Dallas-based airline.

Jordan, who took the helm as CEO back in 2022, succeeded Kelly after 17 years as the company’s leader. He’s since had to deal with a catastrophic holiday meltdown that plagued the airline and its costly aftermath, an FAA audit into safety incidents with the airline’s operations and now, an activist investor looking for change.

Elliott, which disclosed its stake in Southwest in June, has called on Southwest to make major changes to return the air carrier to profitability by changing leadership, replacing board directors and reexamining its business plan. Activist investors, like Elliott, try to turn underperforming companies around for a profit. That sometimes means a dramatic shakeup in leadership and the removal of board members, which has already happened.

The activist investor had been meeting with unions that represent workers at Southwest, like the labor groups for pilots and flight attendants to seek input from members and make the case for changes.

Southwest has also been meeting with unions to discuss Elliott. According to the Aircraft Mechanics Fraternal Association, it met with the company in Dallas on Aug. 28 and was required to sign a Non-Disclosure Agreement because it included information regarding Southwest’s future business plans.

However, not every union agreed to sign an NDA.

According to an Instagram post from Transport Workers Union 556, the union which represents Southwest’s nearly 20,000 flight attendants, the union and others were contacted for a meeting regarding Elliott but asked to sign an NDA that included “terms and conditions severely limiting (the union’s) ability to maintain an open and transparent communication” with members.

Southwest later pulled back on the NDA, agreeing to share public information with those unions involved.

“Southwest continues to welcome opportunities to discuss ideas that would drive sustained shareholder value, and we look forward to providing details about our ongoing transformation at our investor day on Sept. 26,” a Southwest spokesperson wrote in an email.

Elliott declined to comment.

Following its meeting with Elliott, representatives of the Aircraft Mechanics Fraternal Association reached several conclusions which include: Elliott still remains strong on the need for a leadership change at Southwest; Elliott won’t be directly involved in the selection of management; and Southwest’s “storied culture must be recaptured” to move forward.

The union is currently considering more proposed meetings with Elliott. On Monday, Southwest announced the International Brotherhood of Teamsters Local 19, which represents the airline’s flight simulator technicians, voted in favor of their new contract, marking the final of 12 unionized workgroups at Southwest to ratify an updated deal.

“We all want Southwest to grow and thrive, but it must be done through safe and reliable maintenance of the fleet,” Oestreich wrote.

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