Norfolk Southern CEO James Squires to retire in 2022, Alan Shaw to succeed

• Norfolk Southern (NSC +0.7%) has announced that Chairman and CEO James A. Squires plans to retire on May 1, 2022, at which time Executive VP and CMO Alan H. Shaw will become CEO.
• As part of the co.'s planned succession process, the board of directors has elected Shaw to the role of president, effective immediately and the co.'s executive leadership team now reports to Shaw.
• "During his tenure he has increased shareholder value by more than $30B, implemented precision scheduled railroading, led the company through a freight recession and global pandemic, and brought company leadership together in a new, state-of-the-art Atlanta headquarters." said Steven F. Leer, Norfolk Southern's lead independent director.