Teamsters union endorses activist Ancora in Norfolk Southern proxy fight
Publishing timestamp: 2024-04-25 12:26:00
Summary
The BMWED Teamsters have backed activist Ancora and its seven director nominees in a proxy contest at Norfolk Southern, going against other unions who support management. The labor support is crucial in the battle between activists and management for control of the troubled railroad. Labor groups are divided on who to support, with concerns about understaffing and operational plans. The proxy contest will be decided at Norfolk Southern's shareholder meeting on May 9.
Sentiment: MIXED
Keywords: norfolk southern corp, csx corp, transportation, breaking news: business, business news, activism, united parcel service inc, breaking news, mergers and acquisitions, business,
Source: https://www.cnbc.com/2024/04/25/norfolk-southern-nsc-ancora-wins-teamster-union-support.html