Norfolk Southern Corp 8-K, filed May 19, 2020
Norfolk Southern Corp (NSC)
About this 8-K
Norfolk Southern Corp filed this 8-K on May 19, 2020, reporting on events of May 14, 2020.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
May 19, 2020 (
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On May 14, 2020, the Board of Directors elected Clyde Henry Allison Jr., Vice President and Controller of Norfolk Southern Corporation (“the Corporation”), effective June 1, 2020. Mr. Allison, age 56, joined the Corporation in 1993 and has served as Vice President and Treasurer since 2017. Prior thereto, he served as Vice President Audit and Compliance from 2013 to 2017 and previously served as Vice President and Controller from 2009 to 2013.
There was no arrangement or understanding between Mr. Allison and any other person pursuant to which he was selected as an officer of Norfolk Southern and no family relationship between Mr. Allison and any director or executive officer. There are no transactions between Mr. Allison and the Corporation that would require disclosure under Item 404(a) of Regulation S-K.
No material plan, contract or arrangement (written or otherwise) to which Mr. Allison is a party or a participant was entered into or materially amended in connection with him becoming an executive officer, and Mr. Allison did not receive any grants or awards or any modifications thereto, under any such plan, contract or arrangement in connection with such event.
Also effective June 1, 2020, Jason A. Zampi will become Vice President of Financial Planning and Analysis and cease to serve as Controller.
The Corporation issued a press release on May 19, 2020, announcing these and other appointments within its Finance Division. The press release is attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
The following exhibits are filed as part of this Current Report on Form 8-K:
| Exhibit Number | Description |
| 99.1 | Press Release date May 19, 2020 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| SIGNATURES | |
| NORFOLK SOUTHERN CORPORATION | |
| (Registrant) | |
| /s/ Denise W. Hutson | |
| Name: Denise W. Hutson | |
| Title: Corporate Secretary |
Date: May 19, 2020
Finance Division Officer Announcement
Press Release
Date TBD
FOR IMMEDIATE RELEASE
Norfolk Southern announces executive changes to Finance Division
NORFOLK, Va., May 19, 2020 – Norfolk Southern Corporation (NYSE: NSC) today announced organizational changes within its Finance Division.
“As we continue to implement our strategic plan and push toward a 60% operating ratio, we are enhancing our finance organization to drive improved performance across our business,” said Norfolk Southern Chief Financial Officer Mark George.
Jason Zampi will become vice president of financial planning and analysis, a new department within the company’s Finance Division. Zampi currently is vice president and controller. He has been with Norfolk Southern for nine years, serving in leadership roles with finance, treasury, and accounting. Prior to joining Norfolk Southern, he was a senior manager with KPMG LLP.
“This new financial planning and analysis team will strengthen our capabilities for rigorous analysis, robust metrics, and systematic competitive benchmarking,” said George. “It will be an important contributor to our continuing effort to manage our assets well and control our costs.”
Clyde “Jake” Allison Jr. will become vice president and controller, with responsibility for all accounting functions. Allison currently serves as vice president and treasurer. He has been with the company for 26 years, with roles of increasing responsibility in audit and compliance, material management, accounting, and treasury. He began his career as a manager with KPMG LLP.
Chris Neikirk will become vice president of treasury and investor relations. Neikirk currently is assistant vice president finance, cost, and treasury. He has been with the company for 26 years, progressing through roles in marketing, energy and properties, finance, treasury, and the chairman’s office. Pete Sharbel, current director investor relations, will report to Neikirk in this new role.
“Norfolk Southern is fortunate to have talented, experienced leaders like Jason, Jake, and Chris to help lead our company during this critical time of transformation,” said George.
Zampi, Allison, and Neikirk will report to George. The changes become effective June 1, 2020.