Norfolk Southern urges shareholders to vote for its director nominees

Norfolk Southern Corporation issued the following statement highlighting the strength of its board of directors: “Norfolk Southern’s board is composed of industry leaders with the specific skills needed to oversee our strategy, drive sustainable value, and hold management accountable. Our board members have significant, complementary, and diverse expertise, including rail transportation, operations, finance, regulatory and governmental relations, safety, sustainability, cybersecurity, and other relevant skills to continue the board’s effective, independent oversight. The board embraces change and feedback from investors to ensure alignment with shareholders’ best interests. Indeed, the board has led a thoughtful and comprehensive refreshment process to ensure it is best positioned to hold management accountable and deliver results for shareholders. This includes appointing six new directors in the past five years. The board most recently nominated Richard Anderson, former CEO of Delta and Amtrak, and Mary Kathryn “Heidi” Heitkamp, former U.S. Senator and rail safety advocate…As a result of its ongoing refreshment process, Norfolk Southern has assembled a board comprising leaders who represent the best of their respective industries…It is this cohort of extremely talented and experienced directors that Ancora would have shareholders dismantle and replace with inferior nominees who the board has determined lack the necessary qualifications to serve on the board. They are being put forward solely as part of Ancora’s campaign to remove management and take control of the board to implement Ancora’s ill-conceived and reckless strategy. Ancora’s attempt is not only unwarranted, it would introduce significant risk to our strategy and result in value destruction for our shareholders.”