The Brotherhood of Maintenance of Way Employes Division of the International Brotherhood of Teamsters (“BMWED Teamsters” or “BMWED-IBT”) today reiterated its support for Ancora Holdings Group, LLC’s (“Ancora”) efforts to elect seven director candidates and install Jim Barber at Norfolk Southern Corporation (NYSE: NSC) (“Norfolk Southern” or the “Company”).
Tony Cardwell, President of BMWED-IBT, commented:
“The wellbeing of our membership is often dependent upon competent and reliable corporate leadership. Based on our discussions with Ancora director candidate and proposed CEO Jim Barber, the BMWED Teamsters is confident that his leadership would drive necessary changes and improvements to ensure our Norfolk Southern members are protected and succeed on the job. Jim has proven to us that he can build bridges and work with all stakeholders, including labor unions, underpinning our trust in his capabilities. Additionally, we are very confident that our members’ concerns will be appropriately and effectively addressed if Jim is helping turn around Norfolk Southern.
Regrettably, under current CEO Alan Shaw’s leadership, Norfolk Southern’s failure to adequately address significant safety and operations concerns raised by BMWED and others has seriously undermined the railroad. This inability threatens to continue crippling Norfolk Southern’s operations, reflecting a persistent disregard for the critical issues that impact service, safety and the value generated by the Company. We expect this view to be validated when the federal government issues its final report on the East Palestine, Ohio derailment and related toxic burn next month.
In contrast, Jim’s background as COO of a more than $100 billion transportation company and his experience as one of the nation’s largest rail shippers lead us to believe he can drive value for our members and all of the Company’s stakeholders from the boardroom and C-suite.”
View source version on businesswire.com: https://www.businesswire.com/news/home/20240502928890/en/
Contacts
Zachary Wood
Director of Strategic Coordination and Research
BMWED-IBT
(248) 662-2614
zwood@bmwe.org
