Norfolk Southern welcomes new board members, reiterates commitment to shareholders

Rhea-AI Summary

Norfolk Southern (NYSE: NSC) has confirmed the results of its 2024 Annual Meeting of Shareholders, with 13 new members elected to its board of directors. These members include Richard H. Anderson, William Clyburn, Jr., Philip S. Davidson, Francesca A. DeBiase, Marcela E. Donadio, Sameh Fahmy, Mary Kathryn "Heidi" Heitkamp, John C. Huffard, Jr., Christopher T. Jones, Thomas C. Kelleher, Gilbert H. Lamphere, Claude Mongeau, and Alan H. Shaw. The voting results were vetted by an independent Inspector of Elections, affirming the board's commitment to enhance shareholder value and advance operational improvements. Notable election results show strong support for Christopher T. Jones (89.01%), Marcela E. Donadio (88.35%), and Francesca A. DeBiase (88.03%).

Positive

• New board members elected, bringing fresh expertise to Norfolk Southern.
• Strong shareholder support for key board members, such as Christopher T. Jones (89.01%).
• Company's commitment to enhancing shareholder value through strategic alignment.
• Emphasis on operational improvements and building momentum.
• Certified voting results by an independent Inspector of Elections.

Negative

• Some board members received lower support, e.g., Mary Kathryn "Heidi" Heitkamp at 54.08%.
• Potential concerns about the lower vote percentages for Thomas C. Kelleher (68.72%) and Gilbert H. Lamphere (68.17%).
• Significant votes withheld for several candidates, indicating possible shareholder discontent.

Certified results of 2024 Annual Meeting of Shareholders confirm newly constituted board 

Board of directors committed to working collaboratively, engaging with shareholders as it charts A Better Way for Norfolk Southern

ATLANTA, May 15, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) announced Wednesday that the voting results of its Annual Meeting of Shareholders have been certified by an independent Inspector of Elections. The certified results confirm that shareholders have elected Richard H. Anderson, William Clyburn, Jr., Philip S. Davidson, Francesca A. DeBiase, Marcela E. Donadio, Sameh Fahmy, Mary Kathryn "Heidi" Heitkamp, John C. Huffard, Jr., Christopher T. Jones, Thomas C. Kelleher, Gilbert H. Lamphere, Claude Mongeau, and Alan H. Shaw to the company's board of directors. 

"The board and management team are aligned on enhancing shareholder value through the strategy and management team that have been endorsed by our shareholders," said Norfolk Southern President and CEO Alan H. Shaw. "I have connected with each of our board members and appreciate the expertise they bring to help advance Norfolk Southern. I also appreciate the support of our employees, customers, and shareholders over the last few months. We are focused on delivering results and building on the considerable momentum underway as we accelerate our operational improvements."

The final certified voting results of the election of 13 directors for a one-year term to the Norfolk Southern Board are as follows:

Nominees for Director	Votes For	Votes Withheld	Percentage Supporting*
Christopher T. Jones	158,000,865	18,922,320	89.01 %
Marcela E. Donadio	156,826,952	20,096,127	88.35 %
Francesca A. DeBiase	156,252,279	20,684,529	88.03 %
Richard H. Anderson	155,963,709	20,882,198	87.87 %
Philip S. Davidson	148,120,555	27,961,598	83.45 %
Thomas C. Kelleher	121,979,232	54,954,477	68.72 %
Gilbert H. Lamphere	121,001,573	54,596,890	68.17 %
Claude Mongeau	115,064,565	61,873,324	64.82 %
Alan H. Shaw	113,918,528	63,022,232	64.18 %
John C. Huffard, Jr.	113,181,028	63,763,787	63.76 %
Sameh Fahmy	111,026,536	64,570,407	62.55 %
William Clyburn, Jr.	110,126,338	65,474,552	62.04 %
Mary Kathryn "Heidi" Heitkamp	95,984,122	80,906,794	54.08 %
Allison Landry	87,180,961	88,422,646	49.12 %
Jennifer F. Scanlon	81,607,126	95,329,798	45.98 %
John Kasich	78,694,346	93,921,110	44.33 %
Betsy Atkins	67,807,262	107,797,967	38.20 %
Amy E. Miles	64,271,195	112,663,573	36.21 %
James Barber, Jr.	62,038,091	113,578,206	34.95 %
John R. Thompson	52,012,141	124,923,422	29.30 %

*Represents the total percentage of instructed shares voted at the meeting (177,500,540) that voted "For" each respective nominee.

The final results have been certified by First Coast Results, Inc., an independent Inspector of Elections.

About Norfolk Southern
Since 1827, Norfolk Southern Corporation (NYSE: NSC) and its predecessor companies have safely moved the goods and materials that drive the U.S. economy. Today, it operates a customer-centric and operations-driven freight transportation network. Committed to furthering sustainability, Norfolk Southern helps its customers avoid approximately 15 million tons of yearly carbon emissions by shipping via rail. Its dedicated team members deliver more than 7 million carloads annually, from agriculture to consumer goods, and Norfolk Southern originates more automotive traffic than any other Class I Railroad. Norfolk Southern also has the most extensive intermodal network in the eastern U.S. It serves a majority of the country's population and manufacturing base, with connections to every major container port on the Atlantic coast as well as major ports in the Gulf of Mexico and Great Lakes. Learn more by visiting www.NorfolkSouthern.com.

Cautionary Statement on Forward-Looking Statements
Certain statements in this communication are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements relate to future events or our future financial performance, including statements relating to our ability to execute on our strategic plan and the results of our 2024 Annual Meeting and involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or our achievements or those of our industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements may be identified by the use of words like "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "project," "consider," "predict," "potential," "feel," or other comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates, beliefs, and projections. While the Company believes these expectations, assumptions, estimates, and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control. These and other important factors, including those discussed under "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023, as well as the Company's subsequent filings with the SEC, may cause actual results, performance, or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements herein are made only as of the date they were first issued, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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SOURCE Norfolk Southern Corporation

FAQ

What are the results of the Norfolk Southern 2024 Annual Meeting of Shareholders?

The results confirmed the election of 13 new board members with significant support for key figures like Christopher T. Jones (89.01%) and Marcela E. Donadio (88.35%).

Who were elected to the Norfolk Southern board of directors in 2024?

The elected board members include Richard H. Anderson, William Clyburn, Jr., Philip S. Davidson, Francesca A. DeBiase, Marcela E. Donadio, Sameh Fahmy, Mary Kathryn "Heidi" Heitkamp, John C. Huffard, Jr., Christopher T. Jones, Thomas C. Kelleher, Gilbert H. Lamphere, Claude Mongeau, and Alan H. Shaw.

What percentage of support did key board members receive in the Norfolk Southern 2024 elections?

Christopher T. Jones received 89.01% support, Marcela E. Donadio received 88.35%, and Francesca A. DeBiase received 88.03%.

What was the main focus of the newly elected board of Norfolk Southern?

The main focus is on enhancing shareholder value and advancing operational improvements.

Who certified the voting results of the Norfolk Southern 2024 elections?

The voting results were certified by First Coast Results, Inc., an independent Inspector of Elections.