(Reuters) -Southwest Airlines 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, but would still remain on board.

Southwest 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.