EdgePoint Investment Group Inc. supports change at Norfolk Southern
TORONTO, May 1, 2024 /CNW/ - EdgePoint Investment Group, Inc. ("EdgePoint" or "we") has voted all 3.7 million shares of Norfolk Southern Corp. ("Norfolk Southern" or the "Company") under its control for the seven director candidates put forth by Ancora Holdings Group, LLC. In addition, we affirm that the following statement from Institutional Shareholder Services Inc.'s ("ISS") report on Norfolk Southern captures our sentiment pertaining to the Company's current management: "It would therefore be justifiable for shareholders who have already lost faith in the current management team to support the entire dissident slate." *
We are reiterating our view that the status quo at Norfolk Southern will lead to continued underperformance of the railroad. We believe Jim Barber, Jamie Boychuk and a reconstituted board are required to drive stronger safety, service and value creation at the Company.
* Permission to quote from ISS' report was neither sought nor obtained, and emphasis was added by EdgePoint. |
EdgePoint is an independent investment management firm with a 16-year history. We're a long-term investor in businesses that we believe can grow over time. The employees that make up EdgePoint are, as a group, one of the largest investors in EdgePoint Wealth Management Inc. ("EdgePoint Wealth") portfolios. EdgePoint is the Portfolio Manager for EdgePoint Wealth funds.
EdgePoint Wealth is an independent investment management firm based in Toronto and owned and operated by investors.
This is not an offer to purchase. EdgePoint Wealth mutual funds can only be purchased in Canada through a registered Dealer. Please read the simplified prospectus before investing. Copies are available from your financial advisor or at www.edgepointwealth.com. EdgePoint is a registered trademark of EdgePoint Investment Group Inc. |
SOURCE EdgePoint Investment Group Inc.
Patrick Farmer at 416.963.9353 or [email protected].
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