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Norfolk Southern (NSC) Appoints Squires as New CEO - Analyst Blog

Zacks Equity Research
Updated

Major freight railroad operator, Norfolk Southern Corporation NSC, recently appointed James A. Squires as the chief executive officer (CEO).

Aged 53, Squires will succeed Charles Moorman and take office effective Jun 1, 2015. However, Moorman will continue as the executive chairman of the company’s board of directors.

Moorman has served a nine-year term as a CEO during which the company witnessed consistent growth across all its operations. We are also impressed with the company’s focus on rewarding shareholders through consistent share repurchases and dividends. The company, which has paid dividends for 130 consecutive quarters, shelled out $687 million in dividends and repurchased $318 million shares in 2014.

Meanwhile, Squires has been part of Norfolk Southern since 1992. He has held several key positions in the law department and also played pivotal roles in the decision-making process of the company. In 2013, he was elected as the president of the company.

Earlier in his career, Squires was the chairman of Virginia's Transportation Accountability Commission. As far as qualifications go, Squires graduated from Amherst College and holds a Juris Doctor degree from the University of Chicago Law School. He has also served the U.S. army from 1985 to 1989.

An improving U.S. economy, substantial surge in manufactured and retail goods, and a sharp rebound in many end-markets will continue to propel growth for Norfolk Southern while moving ahead. We believe that under Squires’ competent leadership the company will continue to gain from its superior service and network capabilities, infrastructural investments and increased efficiency in the intermodal network.

Stocks to Consider

Currently, Norfolk Southern has a Zacks Rank #3 (Hold). Better-ranked stocks in the sector are Spirit Airlines SAVE, Hawaiian Holdings Inc. HA and JetBlue Airways Corp. JBLU. All three sport a Zacks Rank #1 (Strong Buy).


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Zacks Investment Research