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Norfolk to add new board member in settlement with activist investor
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Norfolk to add new board member in settlement with activist investor
Nov 15, 2024 12:53 PM

Nov 14 (Reuters) - Norfolk Southern ( NSC ) said on

Thursday it had agreed with activist investor Ancora Holdings to

identify an independent director to join the railroad operator's

board.

Ancora has also agreed to withdraw its nomination of four

candidates for election to Norfolk's board, the company said in

a statement.

Ancora, which also entered into a standstill provision, will

now vote in accordance with recommendations made by Norfolk's

board to shareholders related to the company's 2025 annual

meeting.

When appointed, the new director will expand Norfolk's

board to 14 members.

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