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:
Ancient answers to modern questionsAdorable children danced with dragons to celebrate the Spring Festival and welcome Lantern FestivalFirst batch of crossXi, Uruguayan President Hold Talks, Elevate Ties to Comprehensive Strategic PartnershipA drink heritage to cherishSolving problems togetherXi Focus: China's Leadership Holds Symposium for Soliciting Advice on Economic WorkSpring Festival holiday sees 474 million domestic tourist trips in ChinaXi, Uruguayan President Hold Talks, Elevate Ties to Comprehensive Strategic PartnershipReimagining the future of culture
3.0881s , 6497.7890625 kb
Copyright © 2024 Powered by Investors trying to take control of Norfolk Southern railroad pick up key support ,Global Gesture news portal