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Norfolk Southern activist investor highlights past abusive behavior of new COO as proxy fight intensifies

·1 min

Norfolk Southern, a railroad company, is facing a challenge from activist investor Ancora. Ancora is trying to shake up the company’s board and remove CEO Alan Shaw. Recently, Ancora criticized Norfolk Southern’s new COO John Orr for an alleged ’excessive’ buyout package and a career marred by accusations of racial and sexual discrimination. Ancora highlighted past misconduct by Orr, including allegations of verbal abuse towards a female employee and a lawsuit filed by a Black executive concerning discrimination. Ancora argues that Orr’s hiring is costly for Norfolk Southern shareholders. The company defends its decision to hire Orr, citing his track record of performance improvement.