Norfolk Southern plans to add two new directors to its board to defend against activist investment firm Ancora Holdings which wants to oust the railroad operator's chief executive and eight of its current board members. Norfolk Southern said it will nominate former railroad and airline executive Richard Anderson and former U.S. Senator Mary Kathryn "Heidi" Heitkamp as directors for investors to vote on.
Norfolk Southern Corporation (NYSE: NSC) announced Monday that it has filed its preliminary proxy materials with the Securities and Exchange Commission (SEC) in connection with its upcoming 2024 Annual Meeting of Shareholders. The preliminary proxy statement is available on the Investor Relations section of the Norfolk Southern website at www.norfolksouthern.com. In connection with the filing, the Norfolk Southern Board of Directors:
CLEVELAND, February 22, 2024--Ohio-based Ancora Holdings Group, LLC, its affiliates and the other participants in its solicitation (collectively, the "Investor Group" or "we"), who collectively own a large equity stake in Norfolk Southern Corporation (NYSE: NSC) ("Norfolk Southern" or the "Company"), today issued the below statement following the Federal Railroad Administration’s recent letter.