OIL - Norfolk Southern's strategy and team continue to be praised by customers and industry associations | Benzinga
Key partners voice unwavering support for Norfolk Southern's management team and balanced strategy
ATLANTA, May 7, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE:NSC) Tuesday highlighted additional support from key customers and industry associations – including Hub Group, Inc., American Short Line & Regional Railroad Association, CONSOL Energy Inc., and others. Their strong backing underscores the company's balanced strategy, driven by the decisive leadership of CEO Alan Shaw and guided by the Norfolk Southern board, is the best path to drive long-term value for shareholders and deliver reliable, resilient service.1
"Hub Group continues to value its long-term partnership with Norfolk Southern that allows us collectively to deliver a cost-effective, environmentally sensitive intermodal service offering to shippers throughout the eastern United States. The commitment that you and your management team have made to maintaining consistently strong service levels is critical to our mutual success in converting over-the-road shipments to rail which is leading to significant growth. We appreciate that a sustained dedication to maintaining strong service levels is a key element of your strategic plan…We support you and your management team in the ongoing execution of your strategy."
- Phillip Yeager, President, CEO, and Vice Chairman
Hub Group, Inc.
"As a group we are focused on fostering long-term volume and revenue growth for the rail industry. To that end, we support strategies from our Class I partners, including the current Norfolk Southern strategy, dedicated to these same goals. We believe growth is most effectively achieved through a commitment to providing operating resilience and consistent customer service, and to do so over a full business cycle."
- Chuck Baker, President & CEO
American Short Line & Regional Railroad Association
"Arrowhead (now part of Waste Connections) has been [a] customer since 2019. During that time our annual freight volumes have increased thirty-fold, and we are looking to doubling that in the next twelve months. [The Norfolk Southern] team – from the CEO down to the local operating folks – have been extremely helpful and supportive these past five years. A large part of our success has come from their team and our partnership. Although we would never presume to tell your shareholders how to vote, and we will always remain a good NS customer, they should be aware that we would be concerned if the existing operating and marketing support changed."
- Bill Gay, Division Vice President
Arrowhead Environmental Partners/Waste Connections
"As one of the key logistics partners, I want to express my confidence and support for Norfolk Southern's current management team headed by Alan Shaw. CONSOL has been a beneficiary of some of the operational and safety improvements made by Alan. This has allowed us to grow our export business and benefitted thousands of direct and indirect workers in Southwest PA, WV, and MD."
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