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.” |
$1.50 for a coffee? The viral street ‘cafe’ run by a homeless manFormer world's oldest dog stripped of title5 takeaways from the abortion pill case before the U.S. Supreme CourtShoplifter chased by police on horses in New Mexico, video showsOlivia Munn recommends breast cancer risk calculator after diagnosisPunxsutawney Phil and wife Phyllis are parents of 2 babiesNavalny's body returned to mother, spokeswoman saysMountain goat stuck under Kansas City bridge survives rocky rescueCalifornia is still counting votes from Super Tuesday. Experts say that’s normalVideo from 2022 misrepresented as footage of Baltimore bridge collapse