Claude Mongeau, the previous Canadian Nationwide Railway chief govt, has resigned as chair of the Norfolk Southern board of administrators, the corporate introduced Tuesday.
The resignation is for private causes, the railroad mentioned. The board will elect a brand new chair at its subsequent scheduled assembly later this month.
“We’re deeply grateful for Claude’s management over the previous six years,” Norfolk Southern Chief Government Mark George mentioned in a launch. “He has put outsized effort and time into his service as the corporate navigated a number of challenges, in the end stepping up as chair final yr to efficiently combine our new board. He leaves Norfolk Southern (NYSE: NSC) a a lot stronger railroad than it was when he joined us.”
Mongeau joined the board as an unbiased director in 2019. He was elected as chairman in Could 2024 throughout a reshuffling of the board that noticed 5 new members be part of, together with three nominated by activist investor Ancora Holdings throughout its proxy battle for management of the railroad. He was CN CEO from 2010 to 2016, capping 22 years on the railroad that additionally noticed him function chief monetary officer and vice chairman, strategic and monetary planning.
“I’m pleased with the way in which the present board has come collectively to work collaboratively and constructively alongside the administration crew,” Mongeau mentioned. “It has been an honor to serve with them. I’ve each confidence the corporate is again on the fitting trajectory and has what it wants for continued success.”
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