Shareholders' decision will determine the future of Norfolk Southern
Norfolk Southern strongly urges shareholders to vote the WHITE proxy card FOR ONLY Norfolk Southern's 13 highly skilled director nominees
ATLANTA, May 7, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE:NSC) Tuesday reminded shareholders to protect the value of their investment by voting ahead of the 2024 Annual Meeting, which will be held on May 9, 2024.
Norfolk Southern recommends all shareholders vote the WHITE proxy card electronically FOR ONLY Norfolk Southern's 13 nominees. For more information on how to vote, please click here.
Norfolk Southern's board firmly believes all 13 of the company's director nominees are highly qualified to oversee the company's balanced strategy – a strategy that is driving operational improvements and designed to deliver superior shareholder value. In contrast, Ancora is attempting to implement wholesale change designed to overturn the company's strategy. That includes overhauling the company's management team and implementing an ill-conceived strategy that would undermine the important progress Norfolk Southern has made and introduce significant risks to the business, including making the company less safe. Leading proxy advisory firm Institutional Shareholder Services (ISS) has endorsed the continued leadership of CEO Alan Shaw and recognized the benefits of the company's strategy by recommending that shareholders vote for a majority of Norfolk Southern's director nominees.
In deciding your vote, Norfolk Southern urges you to consider that the company has:
The Right Team: CEO Alan Shaw & COO John Orr are leading A Better Way
CEO Alan Shaw is a crisis-tested leader who has taken decisive action to ensure the successful execution of Norfolk Southern's strategic transformation. Recently appointed COO John Orr is a proven operator, with a track record of implementing precision scheduled railroading (PSR), who is accelerating Norfolk Southern's operating plan. Together, their leadership will position the company to become the gold standard of safety in the industry, drive meaningful margin improvement, and outperform peers during freight recovery cycles, while delivering industry-leading service for customers and forging strong relationships with key stakeholders.The Right Strategy: Creating long-term value by delivering reliable, resilient service and responsibly driving productivity
Norfolk Southern's balanced strategy is grounded in a PSR operating plan that ensures the company's network is flexible, properly resourced, and disciplined in operational execution. Norfolk Southern's modern approach will sustainably grow volumes over the long term, prevent avoidable pitfalls and service challenges, and ultimately deliver superior shareholder value. Norfolk Southern is on a clear and achievable path to deliver a sub-60% operating ratio in 3-4 years1 and close the margin gap with peers – without stripping the company "down to the studs,2" which would require massive furloughs, impair service, and lose customers.The Right Approach to Safety: Norfolk Southern is committed to making a safe railroad even safer and being the gold standard for safety in the industry
Norfolk Southern is taking a comprehensive approach to safety: implementing a Six-Point Safety Plan and working with a leading independent safety consultant with Nuclear Navy experience, as well as investing in infrastructure, strengthening safety culture, and advancing a leading role in innovative technology. The board formed a Safety Committee in 2019 focused on the company's safety culture, including oversight of key safety initiatives and performance on safety metrics. Norfolk Southern has collaborated with craft colleagues to enhance training and engagement. We became the first Class I railroad to partner with the FRA and labor unions in the Confidential Close Call Reporting System. Thanks to all those efforts and many more, we ...Full story available on Benzinga.com
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