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      "text": "We see value in potential management change with Jim Barber as CEO and Jamie Boychuk as COO as proposed by the activist investor Ancora...",
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      "text": "It appears NSC is making the case that changing the Board and management would pose significant risk to service and safety.",
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      "text": "[...] we believe a change in management and refreshment of the board at NSC are warranted and could stimulate improved operations and thus equity performance. For these reasons, we intend to support the election of dissident nominees Betsy Atkins, James Barber, Jr., William Clyburn, Jr., Sameh Fahmy, John Kasich, Gilbert Lamphere, and Allison Landry. — Neuberger Berman; We see value in potential management change with Jim Barber as CEO and Jamie Boychuk as COO as proposed by the activist investor Ancora... especially given the historical margin underperformance of Norfolk Southern. — Barclays; We believe the status quo at NSC will lead to continued underperformance of the railroad. We also believe that Board refreshment and Jim Barber's and Jamie Boychuk's leadership are essential for enhancing safety and for ensuring outstanding long-term achievements for the benefit of all NSC's shareholders and other stakeholders. — EdgePoint Investment Group; It appears NSC is making the case that changing the Board and management would pose significant risk to service and safety. But in reality, NSC has already endured the most service and safety challenges in recent years, including the unfortunate events of East Palestine last year, and defective chassis across its network that impacted service and posed safety risks in 2021. — Deutsche Bank",
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