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.”
Australian freshwater crayfish bring fresh vitality to rural Xinjiang
Rashee Rice 'was driving his Lamborghini at 119mph' in the seconds before causing a multi
How to tackle crime in Indian Country? Empower tribal justice, ex
Liverpool confirms Arne Slot as Jurgen Klopp's replacement
People fight desertification in Ningxia, NW China
Yvette Fielding says her Most Haunted co
HK textbooks on territorial sovereignty should meet national standards: education association chief
Revealed: Brit tourist, 19, subjected to sex attack in Majorca 'was gang
Qinghai province activates development potential via featured industries