Investors trying to take control of Norfolk Southern railroad pick up key support
Time:2024-05-21 14:25:24 Source:entertainmentViews(143)
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.”
You may also like
- Yvette Fielding says her Most Haunted co
- Former South Africa leader Zuma promises jobs and free education as he launches party manifesto
- PGA Championship is delayed by fog at Valhalla
- Meet the woman pole
- Amir Khan's £11.5m luxury wedding venue finally hosts its first marriage: Bride arrives on horse
- Anya Taylor
- Pakistan asks its nationals studying in Kyrgyzstan to stay indoors after mobs attacked foreigners
- Twins' Byron Buxton is back after 2
- Celebrity birthdays for the week of May 26