Norfolk Southern (NSC) said Thursday it has entered into a cooperation agreement with shareholder Ancora Holdings Group to add an independent director to the company's board.
The new director, focused on enhancing the board's gender diversity and executive experience, will bring the board's size to 14 members, with 13 serving as independent directors, Norfolk Southern said.
In return, Ancora has agreed to withdraw its nomination of four director candidates for the 2025 annual shareholder meeting and will support the board's recommendations, including a "standstill provision," Norfolk Southern added.
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