Proxy fight seeks to replace NS CEO with former UPS president.

Activist investors are seeking to replace Norfolk Southern's CEO, Alan Shaw, due to concerns about the railroad's safety record and financial performance. Ancora Holdings, which holds a $1 billion stake in NS, has proposed a slate of eight new board members and a new CEO candidate, Jim Barber, a former UPS president. Shaw has defended the railroad's safety record and his strategy of not furloughing train crews during downturns. The outcome of the proxy battle will be determined at the annual shareholder meeting, the date of which has not yet been set. [Extracted from the article]