July 31 (Reuters) - Southwest Airlines ( LUV ) said on

Thursday it has named insider Doug Brooks as chairperson of its

board, effective August 1.

The company also said the appointment follows Rakesh

Gangwal's decision to step down from his role as chair, due to

additional time commitments unrelated to Southwest ( LUV ), but would

still remain on board.

Southwest ( LUV ) also announced formation of a new "Fleet Oversight

Committee" to assist the board in its oversight of the carrier's

aircraft fleet acquisition strategy, of which Gangwal would

serve as chair.