Norfolk Southern Defeats Activist Attempt to Sack Rail CEO

Norfolk Southern Corp. investors backed a majority of its board nominees, a win for Chief Executive Officer Alan Shaw. Shaw was among those seeking to oust the railroad's board members. The railroad was under fire from an activist who wanted to throw out the railroad’s leaders.

Just more than a year after a massive derailment of a Norfolk Southern freight train led to the release of tank cars full of toxic chemicals and increased attention to the issue of railroad safety, the control of the railroad is up for grabs at its annual meeting Thursday.