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:2024-05-22 09:48:47 source:Global Grooves 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
  • Seoul AI summit opens with companies including Google, Meta, OpenAI pledging to develop AI safely
  • More Grads Choosing to Return to Hometowns for Work, Report Says
  • China Celebrates National Day with Jubilation and Hope
  • Xinhua Think Tank Issues Report on China
  • New Zealand Black Caps fans look to Twenty20 World Cup with hope, trepidation
  • Spring Bud Girls Attend 2023 Changchun Air Show
  • Yunnan Spring Bud Girls Attend Study Tour in Beijing
  • Torch Relay of 19th Asian Games Continues in Jinhua
Recommended content
  • Devers sets Red Sox record by homering in his 6th consecutive game
  • More Grads Choosing to Return to Hometowns for Work, Report Says
  • Schools Carry out Post
  • Virtual Technology Showcased at 2023 CIFTIS
  • Serie A champion Inter facing a nervous wait as deadline passes for loan repayment to Oaktree
  • China Focus: Village Cafe in Qinling Mountains Emerges as Tourism Hotspot