
Gary C. Kelly
American business executive (born 1955)
Gary Clayton Kelly (born March 12, 1955) is an American business executive. He is the former chairman and former chief executive officer of Southwest Airlines.2
From Wikipedia’s article on Gary C. Kelly (this version), CC BY-SA 4.0.
Born Mar 12, 1955.1
Companies
- Lincoln National CorporationBoard member Nov 6, 2009 to now11
- AirTran AirwaysChief executive officer12
- Southwest AirlinesChair Jun 6, 2008 to Oct 2, 202413
- Southwest AirlinesChief executive officer Jul 2004 to Feb 1, 202214
- Southwest AirlinesBoard member Nov 19, 2004 to Aug 3, 201615
- Southwest AirlinesPresident Mar 10, 2010 to Mar 17, 201016
- Southwest AirlinesExecutive Vice President-Finan Sep 11, 2003 to Feb 5, 200817
Holdings
Stock this person has reported owning, from the forms officers and directors file with the SEC. See the biggest insider stakes.
Shares held
Southwest Airlines LUV514,516 shares18$20.6M at $39.96Oct 2, 2024
Lincoln National Corporation LNC3,000 shares19$120.7K at $40.24Aug 14, 2026
As of each latest filing. The line shows shares held over time.
Recent filings
- Aug 12, 2026Sold 15,007 shares at $26.50 of Lincoln National Corporation19
- Sep 30, 2024Gift 84,212 shares of Southwest Airlines18
- Sep 30, 2024Gift 84,212 shares of Southwest Airlines18
- Sep 30, 2024Bought 33,921 shares at $29.52 of Southwest Airlines18
- Apr 30, 2024Gift 12,864 shares of Southwest Airlines20
- Apr 30, 2024Gift 16,510 shares of Southwest Airlines20
- Apr 30, 2024Gift 90,759 shares of Southwest Airlines20
- Apr 30, 2024Gift 120,133 shares of Southwest Airlines20
- Feb 21, 2024Shares withheld for tax 29,659 shares at $34.54 of Southwest Airlines21
- Jan 31, 2024Granted 22,736 shares of Southwest Airlines22
- Jan 31, 2024Granted 63,567 shares of Southwest Airlines22
- May 11, 2023Bought 7,838 shares at $25.52 of Lincoln National Corporation23
- Feb 21, 2023Shares withheld for tax 22,800 shares at $33.76 of Southwest Airlines24
- Feb 16, 2023Bought 7,169 shares at $27.90 of Lincoln National Corporation25
- Feb 1, 2023Granted 53,326 shares of Southwest Airlines26
- Nov 29, 2022Gift 3,200 shares of Southwest Airlines27
- May 3, 2022Gift 10,369 shares of Southwest Airlines28
- Feb 21, 2022Shares withheld for tax 25,490 shares at $45.98 of Southwest Airlines29
- Feb 1, 2022Granted 40,117 shares of Southwest Airlines30
- Apr 6, 2021Gift 1,190 shares of Southwest Airlines30
- Apr 6, 2021Gift 1,528 shares of Southwest Airlines30
- Apr 6, 2021Gift 53,282 shares of Southwest Airlines30
- Apr 6, 2021Gift 56,000 shares of Southwest Airlines30
- Mar 1, 2021Gift 8,578 shares of Southwest Airlines31
- Feb 21, 2021Shares withheld for tax 46,855 shares at $52.81 of Southwest Airlines32
Trade performance
| Date | Stock | Trade | Value | Return since | Vs S&P since | Vs S&P, 1 year |
|---|---|---|---|---|---|---|
| Aug 12, 2026 | LNC | Sale | $397.7K | −9.3% | +9.2% | |
| Sep 30, 2024 | LUV | Buy | $1.0M | +37.8% | +3.3% | −8.4% |
| May 11, 2023 | LNC | Buy | $200.0K | +100.7% | +13.4% | +20.6% |
| Feb 16, 2023 | LNC | Buy | $200.0K | +16.1% | −73.0% | −43.0% |
| May 3, 2019 | LNC | Sale | $1.1M | −40.4% | +202.9% | +47.7% |
Returns are price-only (no dividends), measured from the trade date.
Early life and education
- Date not recordedMcCombs School of Business3
- Date not recordedWinston Churchill High School3
- Date not recordedUniversity of Texas at Austin3
Kelly studied accounting at the University of Texas at Austin.
From Wikipedia’s article on Gary C. Kelly (this version), CC BY-SA 4.0.
Career
Occupation: chairperson, chief executive officer.7
- 2004 to 2022Chief executive, Southwest Airlines6
- Date not recordedWorked at Southwest Airlines4
- Date not recordedChief executive, AirTran Airways5
Prior to his work at Southwest, Kelly worked as an audit manager for Arthur Young & Co. and a controller for Sterling Software.
Kelly first joined Southwest Airlines in 1986 as a controller. In 1989, Kelly was promoted to chief financial officer and vice president of finance. In 2001, he was promoted to Executive Vice President. Kelly spent 3 years in this role until he was promoted to become Southwest's fifth CEO and vice chairman in 2004 replacing James Parker who succeeded Herb Kelleher in 2001.
Kelly was named chairman of the board of directors of Southwest Airlines on May 21, 2008, replacing co-founder Herb Kelleher. Gary Kelly also became president of Southwest Airlines the same year, replacing Colleen Barrett when her contract expired on July 15, 2008.
As CEO, Kelly has guided the airline to become the largest carrier of domestic passengers in the United States. He has led the company through a number of transformative, large-scale initiatives including the revamp of the airline's Rapid Rewards program, the introduction of the Boeing 737–800 and 737 MAX aircraft to Southwest's fleet, the acquisition of AirTran Airways, the launching of Southwest's first international service, an update to the airline's branding, the adoption of the Amadeus reservation system, and large expansion projects at the company's corporate headquarters in Dallas.
On January 10, 2017, Kelly announced changes to the company's executive leadership ranks with Thomas M. Nealon named as president and Michael G. Van de Ven named as the airline's chief operating officer. These changes were effective immediately. Kelly retained the title of chairman and chief executive officer.
After agreeing to take a salary cut to prevent employee furloughs, his base salary reduced to zero until the end of 2021.
On 23 June 2021, Kelly announced he would relinquish his role as CEO in February 2022, with Bob Jordan announced to take his place at that time. Kelly said he would remain as executive chairman of the board until at least 2026.
On December 15, 2021, Kelly testified against mask mandates on airplanes at a Senate Committee on Commerce, Science, and Transportation hearing while sitting unmasked next to other unmasked senior airline executives opposed to mask mandates; two days later he tested positive for COVID-19.
In late December 2022, the airline experienced a catastrophic holiday meltdown with severe delays and thousands of flight cancellations through the Christmas holiday. The US Department of Transportation (USDOT) launched an investigation, and in December 2023, the airline reached a settlement and received a record-setting $140 million fine from the USDOT and reported losses exceeding $1.1 billion stemming from the crisis. A major cause of the crisis was the inability of Southwest's crew scheduling system to cope with disruptions from a major winter storm affecting Chicago and Denver. In the midst of protracted contract negotiations under federal mediation, the Southwest Airline Pilots Association, the union representing Southwest pilots, had warned publicly for months that the unreliability of the crew scheduling system would cause mass cancellations and that management was neglecting the problem. The union blamed the crisis on Kelly's leadership, saying that he had fostered a corporate culture in which senior executives made decisions in isolation, and contrasting this with what it described as Southwest's history of "ground-up decision-making". Union president Tom Nekouei said, "This is not a Southwest Airlines problem. This is not an employees of Southwest Airlines problem. This is not an unprecedented weather problem. This is a Gary Kelly problem."
In June 2024, Elliott Investment Management, an activist investment fund, announced that it had taken a $1.9 billion position in Southwest and would seek to oust leadership at the carrier, arguing it had "failed to evolve" citing "leadership’s stubborn unwillingness to evolve the Company’s strategy." The purchase amounted to over 10% of common stock in Southwest, entitling Elliott to call a special meeting of shareholders if Southwest would not agree to its demands. Elliott demanded that Kelly and Jordan step down, blaming the pair for the sharp decrease in the value of Southwest stock over the preceding years.
On September 10, the day after the Southwest board of directors met with Elliott, Kelly said in a letter to shareholders that he would not seek reelection as executive chairman at the spring 2025 annual shareholder meeting. However, the airline announced in late October that Kelly would retire early on November 1, 2024, instead, and would assume the title of chairman emeritus. Southwest promoted aviation industry veteran Rakesh Gangwal, had been appointed to the board in July 2024, to chair of the board.
From Wikipedia’s article on Gary C. Kelly (this version), CC BY-SA 4.0.
Personal life
Kelly was born in San Antonio on March 12, 1955. Kelly received a Bachelor of Business Administration in Accounting from the University of Texas at Austin. He is a Certified Public Accountant.
Kelly first met his wife Carol in eighth grade. They married in 1976. Together, they have two daughters.
From Wikipedia’s article on Gary C. Kelly (this version), CC BY-SA 4.0.
Awards
- Date not recordedTony Jannus Award10
Links
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataGary C. Kelly on Wikidata
- 2WikipediaGary C. Kelly on Wikipedia
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- 13SEC EDGARSouthwest Airlines, Chair
- 14Wikidata and SEC EDGARSouthwest Airlines, Chief executive officer
- 15SEC EDGARSouthwest Airlines, Board member
- 16SEC EDGARSouthwest Airlines, President
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- 20SEC EDGARForm 4 filed May 2, 2024
- 21SEC EDGARForm 4 filed Feb 23, 2024
- 22SEC EDGARForm 4 filed Feb 2, 2024
- 23SEC EDGARForm 4 filed May 15, 2023
- 24SEC EDGARForm 4 filed Feb 23, 2023
- 25SEC EDGARForm 4 filed Feb 17, 2023
- 26SEC EDGARForm 4 filed Feb 3, 2023
- 27SEC EDGARForm 4 filed Dec 8, 2022
- 28SEC EDGARForm 4 filed May 10, 2022
- 29SEC EDGARForm 4 filed Feb 23, 2022
- 30SEC EDGARForm 4 filed Feb 2, 2022
- 31SEC EDGARForm 4 filed Mar 11, 2021
- 32SEC EDGARForm 4 filed Feb 23, 2021
- 33Wikimedia CommonsGary C. Kelly photo by SouthwestArchive, CC BY-SA 4.0