Activist Ancora endorsed by second Norfolk Southern union in proxy contest [CNBC]
Norfolk Southern Corporation (NSC)
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Source: CNBC
dissatisfaction with management and a key endorsement for Ancora as Norfolk Southern's shareholder meeting nears. The BLET Teamsters, which represents the engineers and trainsmen who operate Norfolk Southern's locomotives, said Friday they're throwing their weight behind Ancora. “After the railroad's CEO Alan Shaw hired COO John Orr and following the public comments of both those executives on their strategy for NS, our General Chairman determined that a change at the top is needed,” BLET president Edward Hall said. Union support is unusual for an activist railroad campaign. The BLET Teamsters initially said they would vote their shares with management in February, but decided to back the plan for leadership change following outreach and meetings from CEO pick Jim Barber and Ancora's COO nominee Jamie Boychuk. “It's a privilege to receive support from the BLET Teamsters, who believe in our plan to improve performance, safety and employee relations at Norfolk Southern,” Barber
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- Key regulators express support for Norfolk Southern's leadership and strategy, and concerns with Ancora's plan [Yahoo! Finance]Yahoo! Finance
- Key regulators express support for Norfolk Southern's leadership and strategy, and concerns with Ancora's planPR Newswire
- Norfolk Southern customers: we support the company and its strategy [Yahoo! Finance]Yahoo! Finance
- Norfolk Southern customers: we support the company and its strategyPR Newswire
- Ancora Issues Letter to Norfolk Southern’s Board to Refute False and Unsupported Claims, Including Those Regarding Railway Labor Act Violations and “Vote Buying” from LaborBusiness Wire
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