"Norfolk Southern Appoints New COO Amid Proxy Battle and Recent Derailment"
Originally Published 1 year ago — by The Atlanta Journal Constitution
Norfolk Southern replaces its chief operating officer in response to pressure from activist investor firm Ancora Holdings Group, appointing John Orr as the new COO. Orr, a veteran railroad executive, joins from Canadian Pacific Kansas City and will receive a $25 million waiver of non-compete provisions. The move follows criticism of Norfolk Southern's safety and operational performance, with Ancora advocating for leadership changes to drive profitable growth. The company's annual meeting on May 9 will see shareholders vote on board members and potential CEO replacement, as Norfolk Southern contends with a 44% profit decrease and operational challenges.