US says Norfolk Southern must focus on safety despite investor activism

By Thomson Reuters Feb 21, 2024 | 4:47 PM

WASHINGTON (Reuters) – The head of the Federal Railroad Administration on Wednesday urged Norfolk Southern to focus on safety after a group of activist investors proposed replacing the company’s top management.

FRA Administrator Amit Bose wrote CEO Alan Shaw to “reiterate the only avenue to ensure NS’s immediate and long-term success is through a relentless focus on safety … Any backsliding, as a result of a change in leadership or otherwise, on the safety-oriented path you have laid out and communicated to us will likely attract renewed oversight attention from my office.”

(Reporting by David Shepardson; Editing by Chris Reese)