Member LoginMember Login - User registration - Setup as front page - Add to favorites - Sitemap Investors trying to take control of Norfolk Southern railroad pick up key support !

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

Time:2024-05-17 20:34:19 source:Earthly Exploits news portal

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 information
  • Open letter before European Parliament election: Prioritize democracy as authoritarianism grows
  • Xi plants trees in Beijing, urging nationwide afforestation efforts for beautiful China
  • China pledges constructive role in resolving Myanmar's Rakhine State crisis
  • China to further boost employment
  • Nashville SC fires coach Gary Smith after 3
  • Israeli airstrikes kill 19 Palestinians in Gaza: Hamas
  • Industry insiders say China indispensable to global supply chain
  • CPC to implement Party discipline education campaign
Recommended content
  • Moment British tourists wade into the sea and sprinkle loved
  • China pledges constructive role in resolving Myanmar's Rakhine State crisis
  • Tokyo raises alarm as deadly bacterial infection cases surge: media
  • China's first homegrown polar icebreaker Xuelong 2 to visit HKSAR in April
  • Peruvian lawmakers begin yet another effort to remove President Dina Boluarte from office
  • Maren Morris defends taking her four