Norfolk Southern Clarifies False, Misleading Claims About Safety, Management Compensation

(RTTNews) - Norfolk Southern Corp. (NSC), Monday clarified certain mischaracterization of facts regarding the company's safety record and management compensation.

The announcement comes after the recent train derailment in Lower Saucon Township, PA on March 2, which is currently being investigated by The National Transportation Safety Board. However, the company claimed that derailment did not result in any harm to the community or raise hazardous material concerns.

The company emphasized that it hired Atkins Nuclear Secured as an independent safety consultant, as well took feedback from labor leaders to implement appropriate safety measures.

Norfolk also clarified the facts about management compensation to the CEO, which saw a reduction of 33 percent compared to his target compensation in 2023, by saying that the board's decision reflects a commitment to aligning management with shareholders' interests.

Additionally, the company discarded the proposed dealings with Ancora, citing that the latter's certain suggestions would harm the company's future prospects. Also, it advised shareholders to disregard any blue proxy cards from Ancora and instead vote for the company's director nominees using the WHITE card provided.

Currently, Norfolk's stock is climbing 0.70 percent, to $259.28 on the New York Stock Exchange.