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.
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* Permission to quote
from ISS' report was neither sought nor obtained, and emphasis was
added by EdgePoint.
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ABOUT EDGEPOINT AND EDGEPOINT
WEALTH MANAGEMENT
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.
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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.
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SOURCE EdgePoint Investment Group Inc.