Squires to succeed Moorman as NS' CEO

Norfolk Southern Corp. this morning announced that James Squires will succeed Wick Moorman as chief executive officer, effective June 1, as part of a planned succession process.

Moorman will serve as executive chairman and Squires will continue in his current capacity as president, with all major divisions reporting to him. Moorman and Squires will work closely through May to ensure a seamless transition of leadership responsibilities, NS officials said in a press release.

Squires, 53, joined NS in 1992 and served in several law positions before being named vice president of law in 2003, senior vice president of law in 2004, senior VP of financial planning in 2006, executive VP of finance in 2007, EVP of administration in 2012 and president in 2013. He previously spent a year as Amherst-Doshisha Fellow at Doshisha University in Kyoto, Japan, and served in the U.S. Army from 1985 to 1989.

"Jim has the right experience and vision to advance Norfolk Southern's traditions of safety and service," said Steven Leer, NS' lead independent director. "NS is well-positioned to continue leading and innovating, and the board of directors is confident in the ability of the entire Thoroughbred team to deliver for our customers, shareholders and communities."

Moorman, 63, joined NS predecessor Southern Railway in 1970 and has served as chairman, president and CEO since 2006, when he succeeded David Goode. During his tenure as leader, Moorman has championed public-private partnerships to create rail infrastructure that benefits America in the long term, led efforts to improve the railroad's environmental footprint and sustainable business model, and was among the earliest freight railroaders to seek more cooperation with the long-distance passenger and commuter railroads that use freight tracks, NS officials said. In 2013, Progressive Railroading bestowed its Railroad Innovator Award to Moorman.

"On behalf of the entire board, I thank Wick for his innumerable contributions as CEO. Wick raises the bar for an entire industry," said Leer. "His gift is to see where railroads need to go, find workable ways to get there, and generate the optimism that makes everyone want to get on the train. We will continue to benefit from that with Wick as board chair."