Norfolk Southern Corporation today sent a letter to shareholders detailing the strength of its proven management team, who are accelerating the company's balanced strategy to narrow the operating ratio gap with peers and deliver sustainable shareholder value. In the letter the company highlighted:
• CEO Alan Shaw's decisive, proven leadership in successfully executing Norfolk Southern's strategic transformation. Shaw has positioned the company to become the gold standard of safety in the industry, drive meaningful margin improvement, and outperform peers during freight recovery cycles, while delivering industry-leading service for customers and forging strong relationships with key stakeholders.
• Norfolk Southern's newly appointed COO John Orr is accelerating the implementation of Norfolk Southern's operating plan. Orr's operational expertise and leadership has been lauded by industry leaders, and he has a successful track record of implementing scheduled railroading and operational improvements at multiple Class I railroads, including rapidly remediating CPKC's challenged Mexico operations by implementing a high-efficiency operating model.
• The significant risks of Ancora's reckless plan and demands for a wholesale overhaul of management and the board. These draconian changes would decelerate the momentum of Norfolk Southern's strategic transformation, force substantial furloughs, and destroy long-term value for shareholders.
The letter to shareholders and other important information related to Norfolk Southern's Annual Meeting can be found at VoteNorfolkSouthern.com.
