Activist Ancora wins three board seats at Norfolk Southern but falls short of ousting CEO
NSCNorfolk Southern(NSC) CNBC·2024-05-09 20:49

Norfolk Southern shareholders on Thursday voted to elect three of dissident Ancora's director nominees but fell short of ousting incumbent CEO Alan Shaw. The three seats are short of the full seven that the activist had been seeking, but still a clear indication of shareholders' desire for change at a railroad plagued by underperformance. Norfolk Southern's board had fought hard to stave off Ancora's biggest demand: Firing current CEO Alan Shaw. Ancora had rebuffed past settlement offers that didn't include ...