Norfolk Activist Wins Support From Glass Lewis for CEO Ouster [BNN Bloomberg (Canada)]
Cleveland-Cliffs Inc. (CLF)
Last cleveland-cliffs inc. earnings: 2/20 07:00 am
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Source: BNN Bloomberg
Glass Lewis, an influential proxy adviser, recommended investors vote for six of the dissident nominees, including proposed Chief Executive Officer Jim Barber, according to a statement Monday from activist Ancora Holdings Group. Glass Lewis and Norfolk didn't immediately respond to requests for comment. Ancora is seeking to replace CEO Alan Shaw and most of the railroad's board, citing poor decision-making, weak operating results and an underperforming stock. The campaign comes in the wake of the costly derailment in East Palestine, Ohio, last year that drew national attention. The proxy vote is scheduled for May 9. Read More: Activist Wants to Fire Railroad CEO for His Lack of Ruthlessness Public support for Ancora's slate has grown in recent days, with a pair of Teamsters divisions representing more than 40% of Norfolk's unionized employees calling for leadership change. Bloomberg reported Sunday that Cleveland-Cliffs Inc., a major customer of the railroad, has backed Ancora
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CLF
Earnings
- 4/22/24 - Miss
CLF
Sec Filings
- 5/3/24 - Form 8-K
- 5/1/24 - Form 4
- 5/1/24 - Form 4
- CLF's page on the SEC website