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.”
Yvette Fielding says her Most Haunted co
Palestinian death toll in Gaza exceeds 33,000
Xizang commemorates 65th anniversary of democratic reform that ended feudal serfdom
'Love in Nanning' concert unites singles for a romantic evening
Shooting injures 2 at Missouri high school graduation ceremony
China unveils regulations on implementation of consumer rights protection law
Suggestions made by Chinese lawmakers move toward implementation
Sydney church stabbing being treated as act of terrorism, police say
Mystery artist who erected signs comparing pothole
Iran helicopter crash that killed President Raisi could reverberate across the Middle East
Israeli airstrike kills 9 Palestinians in Gaza's Rafah