Results reflect support for leadership team
and strategy
ATLANTA, May 9, 2024
/PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) announced
today that the preliminary vote count of its proxy solicitor
indicates that its shareholders have voted to elect 10 of Norfolk
Southern's director nominees at the 2024 Annual Meeting of
Shareholders, including:
- Richard H. Anderson, former CEO of Amtrak and Delta Air
Lines
- Philip S. Davidson, retired
four-star Admiral in the U.S. Navy
- Francesca A. DeBiase, former EVP
and global chief supply chain officer of McDonald's
Corporation
- Marcela E. Donadio, former
partner and Americas Oil and Gas sector leader, Ernst &
Young
- Mary Kathryn "Heidi" Heitkamp, former U.S. Senator from
North Dakota
- John C. Huffard, Jr., co-founder of Tenable Network
Security, Inc., and Tenable Holdings, Inc.
- Christopher T. Jones,
former corporate VP and president of the technology services sector
of Northrop Grumman Corporation
- Thomas C. Kelleher, chairman of
UBS Group AG and former president of Morgan Stanley
- Claude Mongeau, former president and CEO of Canadian
National Railway Company
- Alan H. Shaw, president and CEO of Norfolk Southern
Corporation
Additionally, nominees proposed by Ancora Alternatives LLC, were
also elected to the board, including:
- William Clyburn, Jr., former commissioner and
vice-chairman of the U.S. Surface Transportation Board
- Sameh Fahmy, former EVP of
precision scheduled railroading at Kansas City Southern
- Gilbert Lamphere, chairman of MidRail Corporation and
co-founder of MidSouth Rail Corporation
Once finalized, the 13-person board of directors will each serve
a one-year term expiring in 2025.
Norfolk Southern issued the following statement:
We appreciate the support of our shareholders
and the valuable perspectives they have shared with us in the
months leading up to our Annual Meeting.
Our shareholders recognize that positive change
is underway at Norfolk Southern. Moving forward, we will continue
building on the significant progress Alan
Shaw, John Orr, and the
entire team have already achieved. Together, we are building a
safer, more profitable railroad, closing the margin gap with our
peers, and ultimately growing value for our shareholders. We
welcome William Clyburn, Jr.,
Sameh Fahmy, and Gilbert
Lamphere to our board. We will work constructively and
collaboratively on behalf of our shareholders unlocking the full
potential of our powerful franchise.
We thank Amy E.
Miles, Jennifer F. Scanlon,
and John R. Thompson for their
dedication and service to our franchise. We also thank our outgoing
directors Thomas Bell, Mitchell Daniels, Steven
Leer and Michael Lockhart,
each of whom did not stand for re-election to the Board, for their
multiple years of service to Norfolk Southern.
The results announced today are considered preliminary until
final results are tabulated and certified by the independent
Inspector of Elections. Final results will be reported on a Form
8-K that will be filed with the Securities and Exchange
Commission.
About Norfolk Southern
Since 1827, Norfolk
Southern Corporation (NYSE: NSC) and its predecessor
companies have safely moved the goods and materials that drive
the U.S. economy. Today, it operates a
customer-centric and operations-driven freight transportation
network. Committed to furthering sustainability, Norfolk Southern
helps its customers avoid approximately 15 million tons of yearly
carbon emissions by shipping via rail. Its dedicated team members
deliver more than 7 million carloads annually, from agriculture to
consumer goods, and Norfolk Southern originates more automotive
traffic than any other Class I Railroad. Norfolk Southern also has
the most extensive intermodal network in the
eastern U.S. It serves a majority of the country's
population and manufacturing base, with connections to every major
container port on the Atlantic coast as well as major ports in the
Gulf of Mexico and Great Lakes.
Learn more by visiting
www.NorfolkSouthern.com.
Cautionary Statement on Forward-Looking Statements
Certain statements in this communication are "forward-looking
statements" within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995, as amended.
These statements relate to future events or our future financial
performance, including statements relating to our ability to
execute on our strategic plan and the results of our 2024 Annual
Meeting and involve known and unknown risks, uncertainties, and
other factors that may cause our actual results, levels of
activity, performance, or our achievements or those of our industry
to be materially different from those expressed or implied by any
forward-looking statements. In some cases, forward-looking
statements may be identified by the use of words like "may,"
"will," "could," "would," "should," "expect," "plan," "anticipate,"
"intend," "believe," "estimate," "project," "consider," "predict,"
"potential," "feel," or other comparable terminology. The Company
has based these forward-looking statements on its current
expectations, assumptions, estimates, beliefs, and projections.
While the Company believes these expectations, assumptions,
estimates, and projections are reasonable, such forward-looking
statements are only predictions and involve known and unknown risks
and uncertainties, many of which involve factors or circumstances
that are beyond the Company's control. These and other important
factors, including those discussed under "Risk Factors" in our
Annual Report on Form 10-K for the year ended December 31, 2023, as well as the Company's
subsequent filings with the SEC, may cause actual results,
performance, or achievements to differ materially from those
expressed or implied by these forward-looking statements. The
forward-looking statements herein are made only as of the date they
were first issued, and unless otherwise required by applicable
securities laws, the Company disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise.
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SOURCE Norfolk Southern Corporation