Teamsters union endorses activist Ancora in Norfolk Southern proxy fight [CNBC]
Norfolk Southern Corporation (NSC)
Last norfolk southern corporation earnings: 4/29 08:00 am
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Source: CNBC
The labor group said it would back the activist's seven director nominees over Norfolk Southern management, a significant endorsement in an industry unusually dependent on union support. The support from the BMWED Teamsters, whose members build and maintain the track infrastructure that keeps Norfolk Southern trains moving, amounts to a sharp rebuke of CEO Alan Shaw and Norfolk Southern's board. “The BMWED-IBT, after more than a year of non-committal hedging on reasonable, needed changes and untenable shakiness in management at Norfolk Southern, has determined that a change in leadership is needed for the freight rail carrier and its employees,” BMWED Teamsters president Tony Cardwell said. Labor support is now divided between management and activists. Earlier this month, the American Federation of Labor and Congress of Industrial Organizations wrote to Norfolk Southern shareholders and said it's supporting management over Ancora. The union said it was concerned Ancora's plan w
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News
- What Maersk's 2024 Outlook Says About Container Shipping [Yahoo! Finance]Yahoo! Finance
- Jim Barber, Former UPS COO and Member of Ancora's Slate, Sends Letter to Norfolk Southern Shareholders Ahead of May 9th Annual Meeting [Yahoo! Finance]Yahoo! Finance
- Jim Barber, Former UPS COO and Member of Ancora’s Slate, Sends Letter to Norfolk Southern Shareholders Ahead of May 9th Annual MeetingBusiness Wire
- All Three Leading Independent Proxy Advisory Firms Recommend Norfolk Southern Shareholders Vote "FOR" Significant Boardroom Change on the BLUE Proxy Card [Yahoo! Finance]Yahoo! Finance
- All Three Leading Independent Proxy Advisory Firms Recommend Norfolk Southern Shareholders Vote “FOR” Significant Boardroom Change on the BLUE Proxy CardBusiness Wire
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- 5/3/24 - Form DFAN14A
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- 5/2/24 - Form DFAN14A
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