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.”
College baseball notebook: Conference tournaments to decide NCAA automatic bids and many at
Pattern of dragon robe seen in cole flower field in E China's Nanjing
Xi Sends Congratulatory Letter to General Assembly of Alliance for Cultural Heritage in Asia
Enjoy tangyuan on Lantern Festival
Minnesota Uber and Lyft driver pay package beats deadline to win approval in Legislature
Zoom in on beautiful Fenghuang Town
Cherry blossom park in Wuhan opens to public
People visit ancient city of Patara in Turkey
Verona confirms Serie A status for another year after beating Salernitana
Scenery of Sanhuan pastureland in Dalian, NE China's Liaoning
The unstoppable duo of Emma Stone and Yorgos Lanthimos
Peach flowers in full blossom at Mutianyu Great Wall