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:
Strawberry Music Festival to be held at Beijing Expo Park3 sports executives in China found guilty of briberyShanghai Half Marathon gets ready to gun offChina starts building phase II of spallation neutron source to help boost sciHouse fire kills 4, injures 1 in east ChinaLaos eyes influx of Chinese touristsFrance goalkeeper Mike Maignan injures thigh muscle ahead of the European ChampionshipBeijing warns of heavy catkin season on wayGiant pandas set to travel from China to San Diego ZooIraq repatriates nearly 700 more citizens linked to the Islamic State group from a Syrian camp
3.0342s , 4667.4453125 kb
Copyright © 2024 Powered by Investors trying to take control of Norfolk Southern railroad pick up key support ,Stellar Standpoint news portal