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Energy and Bulk customers share their strong support of CEO Alan Shaw and management team
Express concerns that Ancora's plan would hinder and interrupt service for their businesses
ATLANTA, May 6, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE:NSC) Monday shared recent support from multiple key customers, including Lincoln Energy Solutions and Centennial Energy, which underscore that the company's balanced strategy under the decisive leadership of CEO Alan Shaw is taking hold and delivering a safer, more efficient railroad:1
These reactions from multiple key customers underscore a recent rail shipper survey conducted by Wall Street research firm Stephens Inc., which found customers overwhelmingly support Norfolk Southern's strategy and are concerned about the negative effects of Ancora's plan. Customer quotes from the survey include:2
The strong support from customers reinforces that Norfolk Southern has the right team, the right strategy, and the right approach to safety and service, all of which is overseen by the right board of directors. Norfolk Southern's board has been an agent of change and has guided transformational initiatives that are improving safety and operational performance. With positive momentum, Norfolk Southern is executing at full force to drive productivity across its network, close the margin gap with its peers, and deliver sustainable value to shareholders.
In contrast, Ancora's demands for a wholesale overhaul of management and the board would impede this momentum, unnecessarily put Norfolk Southern and its stakeholders at risk, and ultimately destroy long-term value.
Posted In: NSC