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.” |
Nation ranks 2nd for new unicorns in '23Orders surge at China's small commodity hub as Paris Olympics approachesXi Sends Congratulatory Letter to Forum on Civilization and SinologyPublic satisfaction increases on Chinse delivery ratesIntegrated project crucial in green power leapMacron, Le Pen lead 1st round of French presidential electionChina welcomes global enterprises at consumer expo in HaikouXiplomacy: Xi's Remarks at SCO Summit Illustrate China's Commitment to Peace, DevelopmentXi to Attend SCO Summit via Video LinkXi Stresses Higher