Activist Firm Calls for Norfolk CEO Ouster, Board Overhaul (2)

Activist investment firm Ancora Holdings Group called for new management and an overhaul of the board at Norfolk Southern Corp., the railroad that’s still reeling from a costly derailment last year in Ohio.

Ancora will nominate eight directors, including former Ohio governor John Kasich and a former executive with railroad Kansas City Southern, as part of its proxy fight with Norfolk Southern, according to a statement Tuesday. The investor proposed Jim Barber, the ex-chief operating officer of United Parcel Service Inc., to replace Alan Shaw as Norfolk Southern’s chief executive officer.

Norfolk Southern “has suffered for years due ...