politics

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

Font size+Author:World Wrap news portalSource:world2024-05-21 15:28:50I 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
  • Lynn Williams breaks NWSL goal

    Lynn Williams breaks NWSL goal

    2024-05-21 15:15

  • Wisconsin middle school shooting: Suspect identified as 14

    Wisconsin middle school shooting: Suspect identified as 14

    2024-05-21 15:05

  • Japan PM Kishida sends offering to notorious war

    Japan PM Kishida sends offering to notorious war

    2024-05-21 14:43

  • Rwanda's rebirth

    Rwanda's rebirth

    2024-05-21 13:14

Netizen comments