In the wake of well-publicized corporate scandals, the Securities and Exchange Commission and the New York Stock Exchange have issued multiple new regulations, requiring the implementation of policies and procedures in the corporate governance area.

Since beginning business in 1971, Southwest has thrived on a Culture which encourages an entrepreneurial SPIRIT in its Employees, and has emphasized personal responsibility, initiative, and the use of independent, good judgment. The Golden Rule is one of our core values, and we have had a “top-down” insistence on the highest ethical standards at all times.

In complying with new regulations requiring the institution of policies and procedures, it has been the goal of Southwest’s Board of Directors and Senior Leadership to do so in a way which does not inhibit or constrain our Culture, and which does not unduly impose a bureaucracy of forms and checklists. Accordingly, policies and procedures have been adopted in the simplest possible way, consistent with legal requirements.

Southwest is widely recognized as an outstanding corporate citizen. Among other recognitions, Southwest was included in Global Finance magazine's "List of the World's Most Socially Responsible Companies" in January 2004 and is consistently named by Fortune Magazine as one of the top admired companies in America and the world. For a complete listing of recognitions, please refer to the Fact Sheet located in the History section under About SWA on www.southwest.com.

The Corporate Governance section of our website was last updated on April 17, 2009.