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 calls for better coordination to stabilize shipping in Red SeaChina cuts 88 bln yuan in logistics costs in 2017China calls for better coordination to stabilize shipping in Red SeaChina discovers 1China, Zambia to Boost Cooperation as Ties ElevatedClimate change risks for fish across world: UW researchersRailway logistics centers completeChina's secondChina overtakes India to become the world's largest gold jewelry consumer in 2023China, Timor
2.3348s , 6574.9921875 kb
Copyright © 2024 Powered by Investors trying to take control of Norfolk Southern railroad pick up key support ,Worldly Wisdom news portal