1. Norfolk Southern Shareholders Vote Thursday to Keep CEO Alan Shaw.
- Author
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Fung, Esther
- Subjects
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STOCKHOLDERS' voting , *SHAREHOLDER activism , *FREIGHT & freightage , *CHIEF executive officers - Abstract
Norfolk Southern's shareholders have voted to keep CEO Alan Shaw in his position, despite criticism from activist investor Ancora Holdings. However, three members of the company's board will be replaced as a result of the vote. Ancora had pushed for Shaw's removal and changes to the board, citing concerns about the company's operational and financial performance, as well as its handling of a train derailment. Shareholder-advisory firms were divided on the issue, with some supporting changes to the board but not a complete overhaul of leadership. Norfolk and Ancora also have differing views on implementing precision scheduled railroading. [Extracted from the article]
- Published
- 2024