- Push-out Score determined
- After almost seven years in the position
- Accolades and praise for Squires
- Alan Shaw taking over
- Squires spoke at length and said 140 words
(exechange) — Atlanta, Georgia, December 2, 2021 — Jim Squires, chief executive of Norfolk Southern, leaves. As announced by Norfolk Southern Corp. in a news release and in a regulatory filing published on Thursday, December 2, 2021, James A. (Jim) Squires leaves his post as chief executive officer at the railroad giant, after almost seven years in the role, effective May 1, 2022.
Jim Squires’s duties as CEO will be taken over by Alan H. Shaw, most recently Executive Vice President and Chief Marketing Officer at Norfolk Southern Corp.
“The right moment”
Jim Squires’s departure from the CEO post is explained as follows. Squires said: “This is the right moment for a leadership transition.”
Precise information regarding Jim Squires’s future plans was not immediately available.
“Retire”
Norfolk Southern said: “Chairman and CEO James A. Squires plans to retire on May 1, 2022, at which time Executive Vice President and Chief Marketing Officer Alan H. Shaw will become CEO. As part of the company’s planned succession process, the board of directors has elected Shaw to the role of president, effective immediately. The company’s executive leadership team now reports to Shaw.”
Share price increase since June 2015
The announcement follows an increase in Norfolk Southern Corp.’s share price of 190% since June 2015. June 2015 is the month in which Squires’s tenure as CEO began.
In the position of CEO since 2015
Jim Squires became CEO of the Company in 2015.
Squires and Shaw will continue to work closely together over the next five months to complete a smooth transition.
Squires has been President of Norfolk Southern since 2013 and Chief Executive Officer since June 2015.
Squires was named Chairman of the Board of Norfolk Southern in October 2015.
Squires previously served as Norfolk Southern’s Executive Vice President-Administration, Executive Vice President-Finance and Chief Financial Officer, Senior Vice President Finance, Senior Vice President Law, and Vice President Law.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Jim Squires’s move on a scale of 0 to 10.
exechange reached out to Norfolk Southern and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 49.2021 ($).