Norfolk Southern Corporation (NYSE: NSC) has announced the resignation of Chairman Claude Mongeau from the Board of Directors due to personal reasons. Mark R. George, President and CEO of Norfolk Southern, expressed gratitude for Mongeau's leadership over the past six years, highlighting his significant contributions to the company's growth and resilience.
Mongeau, who had been an independent director since September 2019 and was elected chair in May 2024, was commended for his efforts in successfully integrating the new board. He played a vital role in steering the company through various challenges, ultimately leaving Norfolk Southern in a much stronger position than when he joined.
During his tenure, Norfolk Southern has continued to prioritize sustainability, helping its customers avoid approximately 15 million tons of yearly carbon emissions by shipping via rail. The company's commitment to sustainability aligns with its dedicated team members who deliver approximately 7 million carloads annually, covering a wide range of goods from agriculture to consumer products.
With the upcoming election of a new chair at the next scheduled meeting of the Board of Directors, the company is poised to continue its trajectory of success and sustainability.
Norfolk Southern has a significant presence in the eastern U.S., operating a 22-state freight transportation network and boasting the most extensive intermodal network in the region. The company serves a majority of the country's population and manufacturing base, with connections to major container ports on the Atlantic coast and across the Gulf Coast and Great Lakes. Following these announcements, the company's shares moved 0.84%, and are now trading at a price of $247.32. If you want to know more, read the company's complete 8-K report here.
