Southwest Airlines (NYSE:LUV) announced today the appointment of Robert L. Fornaro to its board of directors, effective immediately.
Fornaro, a seasoned veteran in the aviation industry, brings over 40 years of experience to the table, having held CEO positions at Spirit Airlines and AirTran Holdings.
Fornaro's extensive background also includes his role as a consultant for Southwest Airlines following its acquisition of AirTran in 2011, an integration that marked a significant expansion of Southwest's operations.
His dual stints as a consultant for the airline underscore his deep understanding of the company's business model and strategic direction.
"Bob is an exceptional leader and brings a wealth of industry experience to our board," said Gary Kelly, Executive Chairman of the board.
Fornaro will be compensated with an annual retainer fee of $90,000, along with other benefits including free travel on Southwest Airlines for himself and his family.
As a non-independent director due to his prior consulting role, he will not serve on any board committees.