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:2024-05-21 14:44:04 source:Earthly Edition 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
  • Saudi Arabia is going to sponsor the WTA women's tennis rankings under a new partnership
  • Chinese Authorities Emphasize Assistance to People Facing Unexpected Financial Hardships
  • Care Packages Offered for People in Need in Beijing
  • Chinese Astronauts Give Lecture from Space Station
  • Lynn Williams breaks NWSL goal
  • Paddy Rice Harvest in Huangfu Village, Northwest China's Shaanxi
  • China's Women Jump to Second Place in FIBA World Rankings
  • Autumn Harvest Across China
Recommended content
  • Biden says Brown v. Board of Education ruling was about more than education
  • Chinese Dream Inspires Nation on Journey Ahead
  • Press Center for 20th CPC National Congress Opens
  • Ethnic Minority Group in China's Heilongjiang Welcomes Upcoming Chinese Lunar New Year
  • Trump accepts a VP debate but wants it on Fox News. Harris has already said yes to CBS
  • Update: China Unveils Shenzhou