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 09:32:43 source:World Window 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
  • Bella Hadid goes braless in a thigh
  • APEC meeting: Globe
  • ‘Robust' US has helped improve global economic outlook, IMF chief says
  • China warns 'military fans' they could face prison for posting photos online
  • Independent UN experts urge Yemen’s Houthis to free detained Baha'i followers
  • 20 years later, Abu Ghraib detainees get their day in US court
  • Prisoner and corrections officers take refuge in van after shots fired
  • Xi Jinping China President New Year address: Taiwan reunification is an ominous warning message
Recommended content
  • Young Boys seals 6th Swiss soccer league title in 7 years after rallying from firing coach Wicky
  • Brazil's Central Bank reduces basic interest rate to 10.75% per year
  • Over half of Brazilians live on the coast, 2022 Census shows
  • US destroys 11 Houthi drones
  • Uber and Lyft say they'll stay in Minnesota after Legislature passes driver pay compromise
  • Crash snarls Auckland Harbour Bridge traffic