WASHINGTON — Clarence B. Jones says he thought a prankster was on the line when he answered the telephone and heard the person on the other end say they were calling from the White House. “I said, ‘Is this a joke or is this serious?’” Jones recalled. The caller swore they were serious and was … Read more
Norfolk Southern Chief Executive Alan Shaw testifies during a Senate Commerce, Science and Transportation Committee hearing titled “Improving Rail Safety in Response to the East Palestine Derailment” in Washington, U.S., March 22, 2023. Evelyn Hockstein | Reuters Norfolk Southern-invested unions and pension funds should back activist Ancora’s full seven-director slate at the railroad’s shareholder meeting … Read more
Alan Shaw, CEO, Norfolk Southern Scott Mlyn | CNBC Influential proxy advisory firm ISS recommended on Tuesday that Norfolk Southern shareholders support five of activist Ancora’s seven board nominees, withholding an endorsement from CEO pick Jim Barber but describing him as a “credible director and CEO candidate nonetheless.” ISS’ endorsement, in a report viewed by … Read more
A Norfolk Southern train is en route on Feb. 14, 2023 in East Palestine, Ohio. Earlier in the month a derailment sent millions of pounds of toxic chemicals into the environment and forced thousands of people to evacuate. Angelo Merendino | Getty Images News | Getty Images Activist investor Ancora received a powerful endorsement in … Read more
Alan Shaw, CEO, Norfolk Southern Scott Mlyn | CNBC A second Norfolk Southern union said Friday it would back activist Ancora’s efforts to elect seven directors and oust CEO Alan Shaw, a sign of labor dissatisfaction with management and a key endorsement for Ancora as Norfolk Southern’s shareholder meeting nears. The BLET Teamsters, which represents … Read more
Chris Ratcliffe | Bloomberg | Getty Images Elliott Management has built a roughly $1 billion stake in miner Anglo American in recent months, a person familiar with the matter told CNBC. The activist’s U.K. arm, Elliott Advisors, in a regulatory filing Friday confirmed after publication that it had a 2.5% interest in Anglo American. The … Read more
A gay actor’s speech that was canceled over his “lifestyle” is back on at a Pennsylvania school after residents spoke out. The Cumberland Valley School District’s board voted 5-4 Wednesday night to allow children’s book author Maulik Pancholy, who is gay, to speak against bullying during a May 22 assembly at Mountain View Middle School. … Read more
Macy’s flagship store in Herald Square in New York, Dec. 23, 2021. Scott Mlyn | CNBC Department store Macy’s on Wednesday said it had settled its proxy fight with an activist group led by Arkhouse Management, and that it would add two new directors to its 15-person board. The reshuffle moves Macy’s closer to a … Read more
Bob Iger and Nelson Peltz. CNBC In 2015, Nelson Peltz’s Trian Partners was defeated in an activist campaign against chemical firm DuPont, largely because the top three institutional shareholders voted against his slate. Nearly a decade later, those same institutional investors — Vanguard, State Street and BlackRock — are the three largest shareholders in Disney. … Read more
Joe Kiani, CEO, Masimo Scott Mlyn | CNBC Health-tech company Masimo, best known for its successful patent litigation over the Apple Watch, is facing a proxy fight for the second time in two years — from the same activist investor who now sits on the company’s six-person board. Quentin Koffey’s Politan Capital, a roughly 9% … Read more
