Norfolk Southern ($NSC), undergoing a strategic shift in its board composition amid a 0.0% pre-market status, is responding to a proxy battle initiated by an activist-led group. The railroad operator is advocating for its shareholders to support its current management team and strategy, opposing the activist investor's plan to replace the CEO and overhaul the board. Amidst this corporate governance tussle, Norfolk Southern has nominated two new director candidates. This move comes at a time when the company faces scrutiny over its safety practices, highlighted by recent calls from senators for enhanced rail safety measures following preventable derailments. Critics, including Senator Markey, have accused Norfolk Southern of prioritizing profits over safety, citing the CEO's $3.6 million raise amidst ongoing concerns for community and worker safety following the East Palestine train derailment. The urgency for action is underscored by bipartisan support for a rail safety bill.
Norfolk Southern urges shareholders to reject activist investor's takeover plan at the railroad https://t.co/Z1z2lVlhrG
A year later Norfolk Southern is still more focused on its bottom line than the safety of the communities it serves. We need full compensation for the families& workers affected by the East Palestine train derailment—not a $3.6 million raise for its CEO. https://t.co/1h74XgSvBh
Norfolk Southern wants its shareholders to back its current management team and strategy and reject a bid from a group of investors seeking to take over the railroad. https://t.co/MPJqoJxewA
Norfolk Southern urges shareholders to reject activist investor’s takeover plan https://t.co/fniXOkQSpM
Norfolk Southern nominates two new director candidates as the railroad faces pressure from an activist shareholder aiming to replace the CEO and overhaul the board https://t.co/14so7VBKVr
Railroad operator Norfolk Southern is planning a board refresh as it seeks to fend off a shareholder-activist group waging a proxy battle https://t.co/P1Nebhj53D https://t.co/P1Nebhj53D
The big railroads won’t make their trains safer on their own. We must hold railroads like Norfolk Southern accountable for preventable derailments — that means passing our bipartisan rail safety bill.
Norfolk Southern is planning a board refresh as it seeks to fend off an activist-led group waging a proxy battle against the railroad operator. $NSC https://t.co/6Os47M5Wc5
$NSC (+0.0% pre) Activists Push for New Board at Norfolk Southern - WSJ https://t.co/Qi4ooY8h0M