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 articles:
Related suggestion:
Ryan Gosling gushes over partner Eva Mendes and brands her the 'best acting coach'Kim Kardashian showcases her signature curves as she models a SKIMS skinHere's what's on the table for Israel and Hamas in the latest ceaseBarry Keoghan enjoys the spoils of his superstardom by watch shopping on Bond StreetAzealia Banks slammed for calling Kendrick Lamar a 'nepo baby' amid Drake feudKris Jenner launches eerily uncanny Christmas ornament of herself for $82Berkshire Hathaway board feels sure Greg Abel is the man to eventually replace Warren BuffettDefender Kelley O'Hara plans to retire from soccer at the end of the NWSL seasonA Chinese flavor of rap music is flourishing as emerging musicians find their voicesWith 60 goals, Sam Reinhart has made Florida Panthers history. He wants to win the Cup even more
2.5833s , 6501.0625 kb
Copyright © 2024 Powered by Investors trying to take control of Norfolk Southern railroad pick up key support ,World Weaver news portal