One day after reporting a 16.5% decline in second-quarter earnings and promising that the company will take a more cautious approach to growth, Southwest Airlines announced that Executive Chairman Herb Kelleher and President Colleen Barrett, the faces of the carrier that irrevocably altered US commercial aviation, will step down from their positions in 2008 at the conclusion of their contracts and leave the company five years later. SWA also announced that CEO Gary Kelly will continue in ...

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