Summary
Norfolk Southern Corporation (NSC) announced a significant leadership transition via an 8-K filing on March 2, 2015. The Board of Directors has elected James A. Squires as the new Chief Executive Officer, effective June 1, 2015. Mr. Squires, who has been with the company since 1992 and most recently served as President, brings extensive experience in finance and administration to the CEO role. This transition marks the departure of Charles W. Moorman from the CEO position, though he will remain with the company as Executive Chairman of the Board. In this capacity, Mr. Moorman will continue to provide oversight, guidance on critical matters, and strategic input, while also assisting Mr. Squires in his transition. The filing also confirms no reportable family relationships, undisclosed arrangements, or disclosable transactions involving Mr. Squires.
Key Highlights
- 1James A. Squires appointed Chief Executive Officer, effective June 1, 2015.
- 2Charles W. Moorman transitions to Executive Chairman of the Board.
- 3Mr. Moorman will continue to provide board leadership, strategic advice, and assist in the CEO transition.
- 4Mr. Squires has a long tenure with Norfolk Southern, having been with the company since 1992 and most recently served as President.
- 5The company confirmed no undisclosed financial arrangements or family ties for the new CEO.
- 6No material plans, contracts, or arrangements were entered into or amended for Mr. Squires' appointment or Mr. Moorman's new role.
- 7The press release announcing these changes is filed as an exhibit.