US says Norfolk Southern must focus on safety despite investor activism By Reuters

© Reuters. Norfolk Southern Chief Govt Alan Shaw testifies on the East Palestine, Ohio practice derailment earlier than a U.S. Senate Atmosphere and Public Works Committee listening to on Capitol Hill, in Washington, U.S., March 9, 2023. REUTERS/Mary F. Calvert/File Photograph

WASHINGTON (Reuters) – The top of the Federal Railroad Administration on Wednesday urged Norfolk Southern (NYSE:) to concentrate on security after a bunch of activist buyers proposed changing the corporate’s prime administration.

FRA Administrator Amit Bose wrote CEO Alan Shaw to “reiterate the one avenue to make sure NS’s quick and long-term success is thru a relentless concentrate on security … Any backsliding, because of a change in management or in any other case, on the safety-oriented path you’ve gotten laid out and communicated to us will possible entice renewed oversight consideration from my workplace.”