ISS stopped short of endorsing Ancora's full slate.
Share on linkedin An influential shareholder adviser said it is recommending five activist investor nominees to serve on Norfolk Southern's board, in a report that ratchets up the pressure on the railway company's leaders.
ISS acknowledged the company's poor performance and bad communication with investors, but stopped short of backing Ancora's full slate. Norfolk Southern nominee Heidi Heitkamp, the former U.S. senator from North Dakota, did not receive ISS' backing, but former Ohio Governor John Kasich did.Ancora has received support from labor unions, shareholders, and steel producer Cleveland-Cliffs, a Norfolk Southern customer.
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