Norfolk Southern, Shaw come out ahead in proxy fight.

Norfolk Southern has emerged victorious in a proxy battle against activist investor Ancora Holdings, with three of Ancora's seven director candidates being elected to the NS board. While shareholders expressed a desire for change, they also voted to give CEO Alan Shaw and his team more time to implement their "better way" strategy. The proxy battle highlighted concerns about NS's financial and operational performance, including its safety record and response to a hazardous materials derailment. NS has made commitments to improve its operating ratio and work with the new board members to deliver results. [Extracted from the article]