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 17:50:36 source:International Ideals 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
  • Election 2024: Biden and Trump bypassed the Commission on Presidential Debates
  • Suspected arson latest challenge for Tesla in Europe
  • China Energy's massive hydropower station to open in March 2024
  • Two crews set for Tiangong station in '23
  • Saudi Arabia is going to sponsor the WTA women's tennis rankings under a new partnership
  • Construction machinery maker to lift production targets; eyes green model
  • (BRF2023) Xi to Address Opening Ceremony of 3rd Belt and Road Forum for Int'l Cooperation
  • Industrial upgrades crucial to propelling growth
Recommended content
  • Kevin Pillar gets 1,000th career hit in Angels' win at Texas
  • Construction machinery maker to lift production targets; eyes green model
  • Maglev train with a speed of 600 kilometers per hour debuted at the World Manufacturing Conference
  • The ABCs of new quality productive forces
  • Verona confirms Serie A status for another year after beating Salernitana
  • Ready to be world's largest spender on R&D