Norfolk Southern

Sanborn Heading Back East

Cindy Sanborn, one of the first women to hold a senior-level executive role at a Class I railroad, will succeed the retiring Michael Wheeler as Executive Vice President and Chief Operating Officer at Norfolk Southern, effective Sept. 1, 2020.

Scheib Steps Down at NS Amid a Flurry of Changes

John Scheib has stepped down as Executive Vice President and Chief Strategy Officer of Norfolk Southern (NS), effective June 1. In conjunction with this change, the railroad also announced several “organizational enhancements.” Functions within the Service Optimization and Customer Engagement Division, which include Strategic Planning, Network Planning and Optimization, and Customer Operations, will be integrated into the Finance, Operations, and Marketing divisions, respectively.

NS Announces Finance Division Changes

Norfolk Southern Corporation (NS) announced organizational changes within its Finance Division, effective June 1, 2020. Jason Zampi will become Vice President of Financial Planning and Analysis, a new department. Clyde “Jake” Allison, Jr. will become Vice President and Controller, with responsibility for all accounting functions. Chris Neikirk will become Vice President of Treasury and Investor Relations. The three will report to NS Chief Financial Officer Mark George.

NS “Keeping the Steel Wheels Moving”

At Norfolk Southern’s May 14 Annual Shareholder Meeting, held virtual-only for the first time, CEO Jim Squires expressed optimism on the railroad’s future as it deals with the COVID-19 pandemic, and resultant plummeting traffic. NS is “well-positioned to safely and successfully weather the unprecedented situation, despite economic challenges,” he said.

PSR-Driven Power Punt Defines NS 1Q2020

A $385 million “non-cash locomotive rationalization charge related to the ongoing disposition and marketing of excess locomotives not required for future operations due to the successful introduction of Precision Scheduled Railroading” is the defining number for Norfolk Southern’s 1Q2020 financials. NS Chairman, President and CEO Jim Squires said that shedding the locomotives and taking the huge financial charge in this year’s first quarter will yield an “enhanced financial position,” longer term.