Norfolk Southern shareholders on Thursday voted to elect three of dissident Ancora's director nominees but fell short of ousting incumbent CEO Alan Shaw.The three seats are short of the full seven that the activist had been seeking, but still a clear indication of shareholders' desire for change at a railroad plagued by underperformance. Norfolk Southern's board had fought hard to stave off Ancora's biggest demand: Firing current CEO Alan Shaw. Ancora had rebuffed past settlement offers that didn't include ...

Norfolk Southern Corp (NYSE: NSC) is in focus this morning following a report that Ancora Holdings is close to winning board representation at the freight railroad operator. Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.How many seats has Ancora won on $NSC board?Copy link to sectionCounting of votes is still ongoing but the activist hedge fund has already secured adequate support to win seats on the board of $NSC, as per sources that talked to Reut ...

Key partners voice unwavering support for Norfolk Southern's management team and balanced strategy ATLANTA, May 7, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) Tuesday highlighted additional support from key customers and industry associations – including Hub Group, Inc., American Short Line & Regional Railroad Association, CONSOL Energy Inc., and others. Their strong backing underscores the company's balanced strategy, driven by the decisive leadership of CEO Alan Shaw and guided by the No ...

U.S. Department of Transportation and Surface Transportation Board recognize the importance of Norfolk Southern's safety-driven and service-oriented culture Warn Ancora's plan would put safety and service at substantial risk ATLANTA, May 6, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) Monday shared statements from the U.S. Department of Transportation (DOT) and the Surface Transportation Board (STB) expressing support for Norfolk Southern's leadership and strategy in driving improvements ac ...

Energy and Bulk customers share their strong support of CEO Alan Shaw and management team Express concerns that Ancora's plan would hinder and interrupt service for their businesses ATLANTA, May 6, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) Monday shared recent support from multiple key customers, including Lincoln Energy Solutions and Centennial Energy, which underscore that the company's balanced strategy under the decisive leadership of CEO Alan Shaw is taking hold and delivering a sa ...

Significant momentum underway in key operational metrics including train speed, terminal dwell, Intermodal on-time service and Merchandise velocity Strong management and board oversight in place to meet company objectives Norfolk Southern urges shareholders to vote "FOR" ONLY Norfolk Southern's 13 highly qualified nominees on the WHITE proxy card today ATLANTA, May 1, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) Wednesday sent a letter to shareholders in connection with its Annual Meeting o ...

4FR Investment Thesis Norfolk Southern (NYSE:NSC) had a tough start to FY24 with their most recent Q1 results seeing the railroad generate lacklustre returns from their operations. While significant one-off costs associated with the mediation for a derailment that occurred in 2023 placed a real damper on net income, Norfolk also struggled to control operating costs all the while revenues contracted slightly YoY. This has degraded the value proposition of the railroad's stock with shares currently tradin ...

Endorses Alan Shaw's leadership and reflects support for company's strategy Recommendation against Jim Barber makes clear that management change is unwarranted Recommendation overlooks the significant expertise and valuable skill sets of nominees Amy Miles, Mary Kathryn "Heidi" Heitkamp, Thomas Kelleher, Jennifer Scanlon, and John Thompson Norfolk Southern urges shareholders to vote "FOR" ONLY Norfolk Southern's 13 highly qualified nominees on the WHITE proxy card today ATLANTA, April 30, 2024 /PRNewswire/ ...

Influential proxy advisory firm ISS recommended on Tuesday that Norfolk Southern shareholders support five of activist Ancora's seven board nominees, withholding an endorsement from CEO pick Jim Barber but describing him as a "credible director and CEO candidate nonetheless."ISS' endorsement comes one day after Glass Lewis endorsed most of activist investor's slate of nominees and days after two unions came out in support of Ancora's proposed management team.The proxy advisor recommended shareholders suppor ...

A Norfolk Southern train is en route on Feb. 14, 2023 in East Palestine, Ohio. Earlier in the month a derailment sent millions of pounds of toxic chemicals into the environment and forced thousands of people to evacuate.Activist investor Ancora received a powerful endorsement in its efforts to secure a board change and to oust Norfolk Southern CEO Alan Shaw on Monday, when proxy advisor Glass Lewis recommended the railroad's shareholders vote for 6 of Ancora's board nominees."We believe Ancora has presented ...