NSC - Ancora's $1B Stake Sparks Proxy Battle for Norfolk Southern's Future: Report | Benzinga
Norfolk Southern Corp (NYSE:NSC) is gearing up for a board refresh to counter a proxy battle initiated by shareholder-activist group Ancora Holdings.
Regulators and a union group expressed concerns that a leadership change at Norfolk Southern could undermine recent safety initiatives.
The Federal Railroad Administration administrator, Amit Bose, warned against any deviation from the company’s safety-focused trajectory.
Ancora aims to transform Norfolk Southern into a “safer, more sustainable railroad” and plans to disclose further details of its strategy in the upcoming weeks.
In response, the company unveiled a roster of 13 board nominees, which includes two fresh faces: Richard Anderson, former CEO of Amtrak and Delta Air Lines, and Mary Kathryn “Heidi” Heitkamp, a former ...