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:
Earth Day: How to grocery shop to avoid 'pointless plastic'Race car in Sri Lanka veers off track killing 7 people and injuring 20, officials sayCaroline Flack's bestREVEALED: The New York towns that STILL ban booze nine decades after end of prohibitionFiorentina wins 2REVEALED: The New York towns that STILL ban booze nine decades after end of prohibitionOnly one member of the royal family has ever run the London Marathon'Civil War’ continues boxOne Extraordinary Photo: Covering the MastersBarcelona midfielder De Jong leaves 'clasico' on a stretcher after right leg injury
3.3184s , 6491.375 kb
Copyright © 2024 Powered by Investors trying to take control of Norfolk Southern railroad pick up key support ,International Insights news portal