health

Investors trying to take control of Norfolk Southern railroad pick up key support

Font size+Author:Planet Pages news portalSource:travel2024-05-21 06:47:27I want to comment(0)

The activist investors trying to take control of Norfolk Southern’s board are picking up key support

The activist investors trying to take control of Norfolk Southern’s board are picking up key support, but the railroad’s CEO promised Monday to fight the takeover attempt until a May 9 shareholder vote because he believes his strategy is the best in the long run for investors, customers and workers.

Ancora Holdings’ bid to elect seven new directors and replace management at the Atlanta-based railroad has gained the backing of one of the major proxy advisory firms, one of the railroad’s biggest customers and two of its largest labor unions in recent days.

But CEO Alan Shaw said he believes he still has the support of most of the railroad’s workers, investors and customers.

“The choice really couldn’t be any more clear for our shareholders,” Shaw said an interview with The Associated Press. “We make promises and we’ve continued to keep our promises, and we will continue to deliver. And we’ve got a long-term vision for Norfolk Southern where shareholders win, as opposed to the activists who’ve got a short-term and erratic approach where shareholders lose.”

Related articles
  • US overdose deaths dropped in 2023, the first time since 2018

    US overdose deaths dropped in 2023, the first time since 2018

    2024-05-21 06:13

  • Customs authorities intercept gold smugglers

    Customs authorities intercept gold smugglers

    2024-05-21 06:10

  • Lugo pitches 7 crisp innings as the Royals beat the White Sox 2

    Lugo pitches 7 crisp innings as the Royals beat the White Sox 2

    2024-05-21 05:34

  • China home to 47 UNESCO Global Geoparks

    China home to 47 UNESCO Global Geoparks

    2024-05-21 05:05

Netizen comments