Investors trying to take control of Norfolk Southern railroad pick up key support
Time:2024-04-30 15:31:55 Source:politicsViews(143)
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.”
You may also like
- Warning signs of a mini
- Tear gas as crowds clash with riot police in Russia
- Robyn Malcolm takes out best actress gong at France film festival
- Death penalty for artist behind Kyoto anime fire, which killed 36
- China's sci
- Iowa caucuses: What Trump's dominant win means for his rivals
- Better funding could prevent more drownings
- Colonial statues vandalised ahead of contentious Australia Day holiday
- Seattle Kraken fire coach Dave Hakstol after leading the franchise for its first 3 seasons