Norfolk Southern Corporation have highlighted additional support from key customers and industry associations – including Hub Group, Inc., American Short Line & Regional Railroad Association, CONSOL Energy Inc., and others.
They have argued that this strong backing underscores the company’s balanced strategy, driven by the decisive leadership of CEO Alan Shaw and guided by the Norfolk Southern board, is the best path to drive long-term value for shareholders and deliver reliable, resilient service.
“Hub Group continues to value its long-term partnership with Norfolk Southern that allows us collectively to deliver a cost-effective, environmentally sensitive intermodal service offering to shippers throughout the eastern United States. The commitment that you and your management team have made to maintaining consistently strong service levels is critical to our mutual success in converting over-the-road shipments to rail which is leading to significant growth. We appreciate that a sustained dedication to maintaining strong service levels is a key element of your strategic plan…We support you and your management team in the ongoing execution of your strategy.”
Phillip Yeager, President, CEO, and Vice Chairman Hub Group, Inc. said: “As a group we are focused on fostering long-term volume and revenue growth for the rail industry. To that end, we support strategies from our Class I partners, including the current Norfolk Southern strategy, dedicated to these same goals. We believe growth is most effectively achieved through a commitment to providing operating resilience and consistent customer service, and to do so over a full business cycle.”
Chuck Baker, President & CEO American Short Line & Regional Railroad Association said: “Arrowhead (now part of Waste Connections) has been [a] customer since 2019. During that time our annual freight volumes have increased thirty-fold, and we are looking to doubling that in the next twelve months. [The Norfolk Southern] team – from the CEO down to the local operating folks – have been extremely helpful and supportive these past five years. A large part of our success has come from their team and our partnership. Although we would never presume to tell your shareholders how to vote, and we will always remain a good NS customer, they should be aware that we would be concerned if the existing operating and marketing support changed.”
Bill Gay, Division Vice President Arrowhead Environmental Partners/Waste Connections said: “As one of the key logistics partners, I want to express my confidence and support for Norfolk Southern’s current management team headed by Alan Shaw. CONSOL has been a beneficiary of some of the operational and safety improvements made by Alan. This has allowed us to grow our export business and benefitted thousands of direct and indirect workers in Southwest PA, WV, and MD.”
Jimmy Brock, Chairman and CEO CONSOL Energy Inc. said: “HC Minerals (formerly Hi-Crush) unequivocally supports Alan Shaw and the rest of the NS management team, as well as the NS strategy.”
Will Barker, General Counsel and Chief Commercial Officer HC Minerals, said: “Norfolk Southern has made significant service improvements following the implementation of their new operating strategy. Consistent and rateable manifest service is critical to the success of our processing business. It allows us to meet our customers’ needs and supports our growth initiatives. We support NS’s strategic vision for service improvements while maintaining a customer centric approach.”
Gordon Russell, Executive Vice President Louis Dreyfus Company, said: “The ‘new’ focus on smart expansion opportunities was truly refreshing and had been lost since 2008-2010. Since Covid – all departments have been focused on ‘the customer’ which is critical to success in any business. While I have never personally dealt with Mr. Shaw, I know that I can see and feel a very positive change that has been evident to me over the last few years. I truly did not think that a CEO or COO could impact the overall organization the size of NS – but the last 3 or so years something has changed. From what my NS contacts tell me, it comes down from the top. So based on this feedback, Mr. Shaw must be having this positive effect on the performance and attitude of the organization. – I have been a witness to it.”
Von Friesen, Principal Strategic Transload Services, LLC, said: “One Earth Energy, LLC has been a customer of Norfolk Southern railroad for 15 years, prior to that, I was General Manager from 1990 to 2007 with Alliance Grain Co…Norfolk Southern’s enhanced service has enabled us at One Earth Energy to expand our rail business and invest in additional track space to accommodate our growth in production capacity along with rail shipments. I have full confidence in Alan Shaw and the entire management team of Norfolk Southern. Our Board of Directors believes Alan and his team have our best interest in mind and their approach will yield positive outcomes for both Norfolk Southern and customers like One Earth Energy. On behalf of my Board and myself we look forward to continuing [this] mutually beneficial relationship into the future.”
