Norfolk Southern shareholders will decide Thursday morning whether to back an activist investor's bid to take over the railroad's board and replace management.
Norfolk Southern locomotives are moved through the Conway Terminal in Conway, Pa., June 17, 2023. Norfolk Southern shareholders will decide Thursday, May 9, 2024, whether to back an activist investor’s bid to take over the railroad’s board and replace management. …Norfolk Southern shareholders will decide Thursday morning whether to back an activist investor’s bid to take over the railroad’s board and replace management.
If shareholders only support some of their board candidates, then Ancora won’t be able to make sweeping changes right away. Ancora’s plan would rely on running fewer, longer trains on a tighter schedule and switching cars between trains less often to streamline operations. Shaw argued that running the railroad too lean would jeopardize the improvements in safety and service Norfolk Southern has seen since the derailment.
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