By Dean Seal

Norfolk Southern's chief executive has been endorsed by top proxy firm Institutional Shareholder Services as the railroad's leadership works to fend off a proxy fight from investors led by Ancora Holdings.

The ISS issued a report Tuesday recommending that shareholders vote for a majority of Norfolk Southern's proposed director slate at the company's annual shareholder meeting next week.

The recommendation includes support for Chief Executive Alan Shaw, who has been the target of Ancora's ire in its bid to overhaul Norfolk Southern's current leadership.

Write to Dean Seal at dean.seal@wsj.com


(END) Dow Jones Newswires

04-30-24 1249ET