ESG-focused investors and unions should back Norfolk Southern activist Ancora and its CEO pick Jim Barber, ISS said on Thursday.
ESG-focused investors and union pension plans should back Norfolk Southern activist Ancora and its CEO pick Jim Barber, ISS said on Thursday.
ISS' Taft-Hartley Advisory Services and Social Advisory Services, which focus their recommendations on regulated unions and socially-responsible investors respectively, said in their reports, which were both viewed by CNBC, that an Ancora majority would help address"negligence" by the current board and address its"serious concerns with accountability."
ISS earlier endorsed five of Ancora's nominees, withholding support for the activist investors's proposed CEO Barber, but noting that he would likely be a capable executive as well.
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