Norfolk Southern activist investor highlights past abusive behavior of new COO as proxy fight intensifies
Publishing timestamp: 2024-04-06 11:32:36
Summary
Activist investor Ancora is targeting Norfolk Southern's new COO John Orr over allegations of misconduct, including racial and sexual discrimination. The battle between Ancora and Norfolk Southern has been ongoing for about two months, with Ancora seeking to shake up the railroad's board and oust CEO Alan Shaw. The company hired Orr from CPKC last month, leading to criticism from Ancora. The shareholders meeting is scheduled for May 9, with Ancora gaining backing from other stakeholders in its fight with Norfolk Southern. Settlement between the two sides appears unlikely.
Sentiment: NEGATIVE
Tickers: CNR-CA, NSC, CP, UPS, CSX, CP-CA, CNI,
Keywords: business news, canadian pacific railway ltd, canadian pacific kansas city ltd, united parcel service inc, technology, labor economy, csx corp, business, breaking news: business, norfolk southern corp, canadian national railway co, transportation, breaking news: technology, breaking news,