US says Norfolk Southern must focus on safety despite investor activism

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WASHINGTON (Reuters) – The head of the Federal Railroad Administration on Wednesday urged Norfolk Southern (NYSE:NSC) to focus on safety after a group of activist investors proposed replacing the company’s top management.

FRA Administrator Amit Bose wrote CEO Alan Shaw to “reiterate the only avenue to ensure NS’s immediate and long-term success is through a relentless focus on safety … Any backsliding, as a result of a change in leadership or otherwise, on the safety-oriented path you have laid out and communicated to us will likely attract renewed oversight attention from my office.”