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:
Prime Minister's Auckland office vandalised for third time in six monthsZelensky counts on more Western defence aid for Ukraine in next two monthsWait times to see health specialists rise, childhood immunisations fallImmigration declines nearly half of study visa applications from India so far this yearNew advisory groups for science and tertiary sectorsWhat the Green Party knew, and what next for MP Darleen TanaWater reforms repeal could leave some councils out in the cold – mayorEDITORIAL: Reform of WTO key to regaining disputeUpgrades badly needed for PM's residenceWoman charged with murder after man found dead in Hamilton
1.685s , 6498.3359375 kb
Copyright © 2024 Powered by Investors trying to take control of Norfolk Southern railroad pick up key support ,Culture Craft news portal