(AP) — Norfolk Southern Corp. said its CEO will retire next spring, and it will promote one of its executives to replace him.
The railroad said Thursday that Jim Squires will step down as chairman and CEO on May 1 after seven years. Chief Marketing Officer Alan Shaw has been promoted to president, and he will take over as CEO when Squires leaves.
During Squires’ tenure, the railroad overhauled its operations to cut costs and run its trains on more of a set schedule with fewer stops and pickups.
The Norfolk-based company is one of the nation’s largest railroads and it operates in the eastern half of the United States.