NORFOLK (dpa-AFX) - Norfolk Southern Corp. (NSC) announced that it has reached a cooperation agreement with Ancora Holdings Group, LLC. They will work together to identify an independent director to join the Company's Board of Directors. The addition of the new director will expand Norfolk Southern's Board to 14 members, including 13 independent members.
As per the cooperation agreement, Ancora has agreed to withdraw its nomination of four director candidates for election at the Norfolk Southern 2025 Annual Meeting of Shareholders. Ancora has also agreed to vote in accordance with the Board's recommendations in connection with any vote of Norfolk Southern shareholders, including at the 2025 Annual Meeting, and to a standstill provision.
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