INDEPENDENCE, Ohio — The Brotherhood of Locomotive Engineers and Trainmen today said it will “vigorously oppose” an activist investor’s attempt to gain control of the Norfolk Southern board and oust CEO Alan Shaw and Chief Operating Officer Paul Duncan. Cleveland-based Ancora Holdings is waging a proxy battle and has proposed a slate of eight directors […]
FRONT ROYAL, Va. — The Brotherhood of Railroad Signalmen has become the first rail labor union to come out against the activist investor group that’s plotting to oust Norfolk Southern CEO Alan Shaw and gain control of the railroad’s board. The union today expressed “grave concern” with Ancora Holdings’ proxy battle. The union said Ancora […]
WASHINGTON — Federal Railroad Administrator Amit Bose, in a Wednesday letter to Norfolk Southern CEO Alan Shaw, has cautioned against “backsliding, as a result of a change in leadership or otherwise, on the safety-oriented path” the railroad has established since the February 2023 East Palestine derailment. Bose’s letter comes in response to an effort by […]
CLEVELAND — Activist investor Ancora Holdings Group, which seeks to oust current Norfolk Southern CEO Alan Shaw, would replace him with former United Parcel Service President Jim Barber Jr., the investment group said today in announcing its slate of eight candidates for the company’s board of directors. Jamie Boychuk, former CSX executive vice president of […]
ATLANTA — Norfolk Southern replaced 556 miles of rail last year, the highest tally since 1990, the railroad said today. NS’s capital production gangs broke productivity records by laying 35 more track miles of rail than in 2022, while using the same number of rail installation teams. “The Norfolk Southern Engineering Department truly came together […]
ATLANTA – Norfolk Southern’s engineering team completed $1 billion in improvement projects last year, including installation of new wayside detectors as well as repairs and replacement of tracks, bridges, and grade crossings. “Our extensive infrastructure work is an important component of being a customer-centric, operations-driven railroad and represents an investment in the safety of our […]
WASHINGTON — The National Transportation Safety Board is investigating a Norfolk Southern employee fatality that occurred Wednesday in Decatur, Ala., the agency announced today. An NTSB spokesman said in an email that the incident occurred about 5:15 p.m. when a locomotive engineer was struck by freight cars. Additional information about the exact circumstances of the […]
WASHINGTON — Surface Transportation Board Chairman Martin J. Oberman says he’s concerned about reports that an activist investor plans to launch a proxy fight to oust Norfolk Southern CEO Alan Shaw. “Is this an investor whose goal it is to reinstate the bad old days when the marching orders to the C-suite were to cut, […]
An activist investor group has taken a $1 billion stake in Norfolk Southern and aims to wrest control of the company’s board and oust CEO Alan Shaw, according to a report in The Wall Street Journal this evening. The investor group, led by Cleveland-based Ancora Holdings, has nominated a slate of directors that includes former […]
Norfolk Southern, the Brotherhood of Locomotive Engineers and Trainmen, and the SMART-TD union will participate in the Federal Railroad Administration’s Confidential Close Call Reporting system, or C3RS, the railroad and labor unions said in a joint statement today. “NS is proud to partner with our labor leaders and FRA to make another industry-leading advancement in […]
ATLANTA — Norfolk Southern told employees today that it will eliminate 7% of its management and staff positions as a cost-cutting move. The railroad is set to publicly announce the cutbacks during its fourth-quarter earnings call on Friday morning. NS is offering voluntary severance packages to eligible employees, according to people familiar with the matter. […]
ATLANTA — Norfolk Southern partnered with 62 customers to complete industrial development projects worth $3.1 billion last year, the railroad said. “Norfolk Southern worked with customers and economic development partners to facilitate broad-based industrial development in 2023 and set the stage for growth in 2024,” NS Chief Marketing Officer Ed Elkins said in a statement […]
