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.” |
Curling Mixed Doubles Round Robin Session 14 at Gangwon 2024: New Zealand vs. ChinaWorkers Produce Spring Festival Posters in China's ShandongUnderwater Dragon Dance Staged in China's QingdaoIntelligent Seedling Breeding Base Enhances Spring Farming Efficiency in ChongqingAcross China: A Glimpse into Thriving Ice and Snow Industry in XinjiangChina to Further Enhance Medical Treatment for Critical Pregnant WomenService Stations Organize Activities for Herdsmen to Enrich Leisure Time in XinjiangShanghai Weighs Options to Tackle Birthrate DeclineMovies Featuring Women's Strength Popular in China's CinemaFestive Events Highlight New Year Celebrations in Macao