On May 8, 2025, Norfolk Southern Corporation held its 2025 Annual Meeting of Shareholders, a key event that set the course for the company’s governance and strategic priorities for the coming year. This report provides a detailed summary of the meeting outcomes, their implications, and connects these updates to the company’s recent strategic direction and financial performance.
At the meeting, shareholders elected thirteen directors to serve one-year terms, underscoring strong governance continuity. The vote counts ranged significantly for each director, with notable figures such as Richard H. Anderson receiving approximately 170.3 million votes in favor, against 3 million votes withheld, and 27.4 million broker non-votes. The substantial shareholder engagement highlights Norfolk Southern’s committed investor base.
In addition to the board elections, shareholders ratified the appointment of KPMG LLP as the independent registered public accounting firm for the year ending December 31, 2025. The ratification passed with 190 million votes for, approximately 10.3 million votes against, and 314 thousand abstentions, demonstrating overwhelming confidence in the company’s audit oversight.
Held at the company’s principal executive offices in Atlanta, Georgia, this meeting aligns with Norfolk Southern’s firm commitment to governance transparency and shareholders’ active involvement in corporate affairs.
Most notably, the advisory resolution on executive compensation, commonly known as the “Say on Pay” vote, was approved with over 164 million votes for, versus just over 8 million votes against. This shareholder approval ratifies the company’s executive compensation structure which, according to previous earnings call insights, is evolving to align with the company’s strategic goals of top-tier revenue and earnings growth, operational efficiency, and balanced capital deployment.
For fiscal year 2024, Norfolk Southern reported total revenues of \(12.12 billion and a net income of approximately \)2.62 billion. These figures provide a strong financial foundation as the company progresses with its strategic initiatives.
The 2025 meeting outcomes reflect a continuation of Norfolk Southern’s strategic framework laid out in recent earnings calls, emphasizing service, productivity, revenue growth, and shareholder value. For instance, executive leadership has communicated efforts to modernize labor agreements and enhance operational flexibility, crucial for adapting to market demands and potential volume fluctuations.
Norfolk Southern’s 2025 Annual Meeting of Shareholders signals robust governance practices, shareholder confidence in leadership, and commitment to aligned executive compensation. These elements underscore the company’s pursuit of strategic growth and operational excellence backed by solid financial results.
For the detailed source document, visit: Norfolk Southern 8-K May 2025