Southwest Airlines CEO Gary Kelly To Step Down As CEO In 2022

Southwest Airlines Co LUV announced that chairman and CEO Gary Kelly will step down from his role as CEO in early 2022 and transition to executive chairman.

On CNBC's "Squawk On The Street" Thursday, Kelly said he is looking forward to "finishing strong." 

Everyone should aspire to be a part of a championship team, Kelly said, adding that he never had that opportunity until he arrived at Southwest Airlines. 

The company continues to find ways to overcome challenges such as the one the COVID-19 pandemic presented, he said. 

All companies are either growing or declining — there is no in-between, Kelly noted. Southwest is striving for growth moving forward, he added.

The company still has the same strengths that it did in 1971, including low costs, great service and a strong balance sheet, Kelly told CNBC, adding that those advantages will continue to propel Southwest moving forward. 

Leadership Transition: Bob Jordan will step into a role as CEO of Southwest Airlines that Kelly says he is more than prepared for. Kelly will focus on supporting Jordan and making the company successful in his role as executive chairman, he told CNBC.

Following his transition from CEO, Kelly plans to remain in his role as executive chairman through at least 2026. 

See Also: Where Southwest Airlines Stands With Analysts

Price Action: Southwest Airlines has traded as high as $64.75 and as low as $30.24 over a 52-week period.

At last check Thursday, the stock was down 0.42% at $54.99.

Image: Gary Kelly (left), Bob Jordan (right) in Southwest Airlines video