Norfolk Southern’s management has prevailed in its battle to retain control of the Class 1 railroad, with activist shareholder Ancora Holdings winning only three seats on the board of directors Thursday.
The results of the shareholder vote announced at the company’s annual meeting did cost board chair Amy Miles her position, as she was not reelected. But CEO Alan Shaw was returned to his seat on the Norfolk Southern (NYSE: NSC) board, and of the seven Ancora nominees, only three were elected.
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