Ancora Details Serious Governance, Process and Competition-Related Issues Stemming from Norfolk Southern’s Appointment of John Orr as COO
Norfolk Southern Corporation (NSC)
Last norfolk southern corporation earnings: 4/29 08:00 am
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US:NYSE Investor Relations:
nscorp.com/content/nscorp/en/investor-relations.html
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Source: Business Wire
CLEVELAND--(BUSINESS WIRE)--Ohio-based Ancora Holdings Group, LLC (collectively with its affiliates, “Ancora” or “we”), which owns a large equity stake in Norfolk Southern Corporation (NYSE: NSC) (“Norfolk Southern” or the “Company”), today issued the below statement in response to the Company’s appointment of its third COO in two years under CEO Alan Shaw:“The Board and Mr. Shaw put their own interests ahead of shareholders’ interests by paying $25 million and giving up part of Norfolk Southern’s long-term franchise, in the form of concessions related to the Meridian Speedway and Terminal, just to hire a COO without any experience at an Eastern railroad and whose most recent role was eliminated altogether at CPKC.1 Keep in mind that Norfolk Southern invested approximately $300 million for a 30% stake in the Meridian assets in 2006, suggesting the net present value of that stake is worth significantly more in 2024. The deal disclosed today allows Norfolk Southern to hire one quest
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News
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- The Brotherhood of Locomotive Engineers and Trainmen, an Affiliate of the International Brotherhood of Teamsters, Calls for New Leadership at Norfolk Southern [Yahoo! Finance]Yahoo! Finance
- The Brotherhood of Locomotive Engineers and Trainmen, an Affiliate of the International Brotherhood of Teamsters, Calls for New Leadership at Norfolk SouthernBusiness Wire
- Ancora’s Proposed Directors and Management for Norfolk Southern Win Support from the Brotherhood of Locomotive Engineers and Trainmen Division of the International Brotherhood of TeamstersBusiness Wire
NSC
Earnings
- 4/24/24 - Miss
NSC
Sec Filings
- 4/26/24 - Form DEFA14A
- 4/26/24 - Form DEFA14A
- 4/26/24 - Form DFAN14A
- NSC's page on the SEC website