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:
China Beats Brazil in 2023 Volleyball Nations LeagueChina Focus: PLA Navy's Founding Anniversary Commemorated with Public CelebrationsChina Continues to Raise Basic Pension Payments for Retirees5th China Xizang Tourism and Culture Expo held in Lhasa, SW ChinaProject Launched to Encourage Participation of Children in Family LaborChina Enhances Judicial Protection for Minors Against Sexual ViolationsChina to Pilot National Cultural Heritage'She Sports' Trend Rings in Big Biz for BrandsUN Chief Calls for Equal Land Rights for WomenLenstoLens
2.5603s , 6502.0390625 kb
Copyright © 2024 Powered by Investors trying to take control of Norfolk Southern railroad pick up key support ,International Impression news portal