Norfolk Southern Corp. (NSC) announced that it has named James Squires as chief executive officer or CEO. Squires will succeed Charles Moorman.
The action by the company's board of directors is part of its planned succession process and will be effective June 1, 2015, Norfolk noted.
The company stated that Squires will continue in his current capacity as president and with all major divisions reporting to him, while Moorman will continue as executive chairman of the board of directors. Moorman and Squires will work closely together to ensure a seamless transition of leadership responsibilities.
Squires joined Norfolk Southern in 1992 and served in several law positions before being named vice president law in 2003, senior vice president law in 2004, senior vice president financial planning in 2006, executive vice president finance in 2007, executive vice president administration in 2012, and president in 2013, the company stated.
Virginia Business magazine recognized Squires with its CFO Award for Publicly Traded Companies in Virginia in 2011. Appointed by then Governor Tim Kaine, Squires also served as chairman of Virginia's Transportation Accountability Commission.
A native of Hattiesburg, Moorman joined NS predecessor Southern Railway in 1970 as a coop student. He was named chairman, president and CEO in 2006, succeeding David Goode. In 2011, Railway Age magazine named Moorman "Railroader of the Year."
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