financetom
Business
financetom
/
Business
/
Norfolk Southern's Activist Shareholder Ancora Gains Union Backing for Leadership Change
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Norfolk Southern's Activist Shareholder Ancora Gains Union Backing for Leadership Change
Apr 25, 2024 8:12 AM

10:58 AM EDT, 04/25/2024 (MT Newswires) -- Norfolk Southern's ( NSC ) shareholder Ancora Holdings Group said Thursday that it has received support from the Brotherhood of Maintenance of Way Employees Division of the International Brotherhood of Teamsters for its proposed director candidates.

Ancora is seeking the election of seven directors to Norfolk's board at the company's annual meeting of shareholders slated on May 9, the firm added.

The BMWED-IBT said separately that it "has determined a change in leadership is needed for the freight rail carrier and its employees."

The union said it had a reasonable constructive meeting with potential new leadership and change in Norfolk's leadership will be the best course of action for its members.

Additionally, there is no reason to support company's current administration, the union noted.

Norfolk did not immediately respond to MT Newswires' request for comment.

Price: 233.56, Change: -2.66, Percent Change: -1.13

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Costco, Teamsters negotiating committee reach tentative agreement
Costco, Teamsters negotiating committee reach tentative agreement
Feb 1, 2025
(Reuters) - The Teamsters labor union said on Saturday that its negotiating committee has reached a tentative agreement for a new contract with U.S. retailer Costco Wholesale ( COST ). The tentative agreement will be presented to the membership for a vote, the union, which represents more than 18,000 workers at Costco, said in a post on X, without providing...
India axes import tax on some smartphone parts in boost to Apple, Xiaomi
India axes import tax on some smartphone parts in boost to Apple, Xiaomi
Feb 1, 2025
NEW DELHI (Reuters) - India has removed import duties on some components key to producing mobile phones, Finance Minister Nirmala Sitharaman announced in the annual budget on Saturday, in a boost for local production efforts and benefiting firms such as Apple ( AAPL ) and Xiaomi ( XIACF ). India's electronics production has more than doubled in the last six...
US looking into whether DeepSeek used restricted AI chips, source says
US looking into whether DeepSeek used restricted AI chips, source says
Feb 1, 2025
(Reuters) - The U.S. Commerce Department is looking into whether DeepSeek - the Chinese company whose AI model's performance rocked the tech world - has been using U.S. chips that are not allowed to be shipped to China, a person familiar with the matter said. China's DeepSeek last week launched a free assistant it says uses less data at a...
Costco, Teamsters negotiating committee reach tentative agreement
Costco, Teamsters negotiating committee reach tentative agreement
Feb 1, 2025
Feb 1 (Reuters) - The Teamsters labor union said on Saturday that its negotiating committee has reached a tentative agreement for a new contract with U.S. retailer Costco Wholesale ( COST ) . The tentative agreement will be presented to the membership for a vote, the union, which represents more than 18,000 workers at Costco, said in a post on...
Copyright 2023-2026 - www.financetom.com All Rights Reserved