Shaw: Shareholders were clear on Norfolk Southern's strategy

Norfolk Southern Corp. (NS) President and CEO Alan Shaw yesterday released a video message to address last week’s annual shareholders election, which resulted in five new board members and maintaining the railroad’s current management team.

Shaw shared his thoughts on the company’s leadership and strategy.

"What our shareholders did and how they voted indicated their confidence in our strategy, our approach and our management team," Shaw said in the video. "They were also really clear. They want us to deliver results ... We're completely aligned. We’ve got to deliver on that groundbreaking strategy of a balance between service, productivity and growth — with safety at its core."

Shaw's message can be viewed here.

At the annual meeting held May 9,  NS shareholders elected 10 of the company's 13 proposed director nominees. Three of Ancora Holdings Group LLC's nominees also were elected. The meeting followed a months-long proxy battle over the Class I’s future direction and leadership, with Ancora — a  major NS shareholder — proposing an overhaul of the board and the replacement of Shaw with a new leadership team.