ISS recommended that shareholders support five of Ancora's seven nominees and seven Norfolk Southern nominees.
ISS recommended that shareholders support five of Ancora's seven nominees and seven Norfolk Southern nominees, but it recommended that shareholders withhold support from incumbent board chair Amy Miles.
Ancora is seeking to oust both current CEO Shaw and newly appointed COO John Orr. The activist holds Shaw accountable for NSC's historic underperformance relative to peers, and for a disastrous derailment in East Palestine, Ohio, just a few months into his tenure. ISS said in its report that it was clear "that the dissident has presented a balanced slate consisting of qualified nominees, and has generally targeted the appropriate management nominees."
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