Proxy advisor ISS says unions and pension funds should back Norfolk Southern activist investor
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Norfolk Southern shareholders back CEO Alan Shaw but give activist investors three board seats (updated)
ATLANTA — Norfolk Southern shareholders delivered a split verdict today, sparing CEO Alan Shaw while electing three of activist investor Ancora Holdings’ insurgent director candidates and ousting its independent chair, Amy Miles. Investors sent a clear message that ends the bitter proxy fight. They backed Ancora’s desire for change but sought to give Shaw & []Read More
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With Norfolk Southern proxy battle entering the homestretch, activist investor woos shareholders
CLEVELAND – With less than a week to go in its Norfolk Southern proxy fight, activist investor Ancora Holdings has questioned the railroad’s service improvements, won support from a small proxy advisory firm, and sought to woo shareholders with a letter from CEO candidate Jim Barber Jr. NS has touted the pace of operational improvements []Read More
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Activist investor wins 3 Norfolk Southern board seats but won’t have control to fire CEO
Norfolk Southern’s CEO will be under more pressure to improve profits after the railroad’s shareholders voted Thursday to elect three of the board members an activist investor nominated, but he won’t be fired right away. Ancora Holdings had nominated seven directors as part of a bid to take control of the railroad’s 13-member board and []