Norfolk Southern adds independent director to board 'via cooperation agreement' with activist Ancora
PRESS RELEASE Norfolk Southern to add new independent director to board via cooperation agreement with shareholder ...
SEEKING ALPHA reports:
Norfolk Southern Corp. (NYSE:NSC) CEO Alan Shaw kept his job and activist Ancora Holdings won three board seats in a battle with the railroad operator. NSC shares fell 5.2% in premarket trading following the results.
Based on preliminary vote results ahead of the Thursday shareholder meeting, holders voted to elect Ancora nominees William Clyburn, Jr., Sameh Fahmy and Gilbert Lamphere to Norfolk Southern’s (NSC) board, according to a statement from the activist hedge fund on Thursday.
Ancora Holdings, which holds a $1B stake ...
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