Norfolk Southern Management

Management criteria checks 2/4

Norfolk Southern's CEO is Alan Shaw, appointed in Dec 2021, has a tenure of 2.42 years. total yearly compensation is $13.42M, comprised of 8.2% salary and 91.8% bonuses, including company stock and options. directly owns 0.017% of the company’s shares, worth €8.05M. The average tenure of the management team and the board of directors is 2.4 years and 7.5 years respectively.

Key information

Alan Shaw

Chief executive officer

US$13.4m

Total compensation

CEO salary percentage	8.2%
CEO tenure	2.4yrs
CEO ownership	0.02%
Management average tenure	2.4yrs
Board average tenure	7.5yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Alan Shaw's remuneration changed compared to Norfolk Southern's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	US$1b
Dec 31 2023	US$13m	US$1m	US$2b
Sep 30 2023	n/a	n/a	US$2b
Jun 30 2023	n/a	n/a	US$3b
Mar 31 2023	n/a	n/a	US$3b
Dec 31 2022	US$10m	US$900k	US$3b
Sep 30 2022	n/a	n/a	US$3b
Jun 30 2022	n/a	n/a	US$3b
Mar 31 2022	n/a	n/a	US$3b
Dec 31 2021	US$4m	US$617k	US$3b
Sep 30 2021	n/a	n/a	US$3b
Jun 30 2021	n/a	n/a	US$3b
Mar 31 2021	n/a	n/a	US$2b
Dec 31 2020	US$4m	US$600k	US$2b
Sep 30 2020	n/a	n/a	US$2b
Jun 30 2020	n/a	n/a	US$2b
Mar 31 2020	n/a	n/a	US$2b
Dec 31 2019	US$5m	US$600k	US$3b
Sep 30 2019	n/a	n/a	US$3b
Jun 30 2019	n/a	n/a	US$3b
Mar 31 2019	n/a	n/a	US$3b
Dec 31 2018	US$4m	US$600k	US$3b
Sep 30 2018	n/a	n/a	US$6b
Jun 30 2018	n/a	n/a	US$6b
Mar 31 2018	n/a	n/a	US$6b
Dec 31 2017	US$4m	US$600k	US$5b

Compensation vs Market: Alan's total compensation ($USD13.42M) is above average for companies of similar size in the German market ($USD5.55M).

Compensation vs Earnings: Alan's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Alan Shaw (55 yo)

2.4yrs

Tenure

US$13,418,978

Compensation

Mr. Alan H. Shaw has been President at Norfolk Southern Corporation since December 02, 2021 and serves as its Chief Executive Officer and Director since May 01, 2022. He was Chief Marketing Officer and Exe...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Alan Shaw	President	2.4yrs	US$13.42m	0.017% $ 8.1m
Mark George	Executive VP & CFO	4.5yrs	US$3.37m	0.0060% $ 2.9m
Claude Elkins	Executive VP & Chief Marketing Officer	2.4yrs	US$3.96m	0.0019% $ 929.7k
John Orr	COO & Executive VP	less than a year	no data	no data
Fredric Ehlers	VP of Information Technology & Chief Information Officer	10.5yrs	no data	no data
Luke Nichols	Senior Director of Investor Relations	no data	no data	no data
Nabanita Nag	Executive VP & Chief Legal Officer	2.2yrs	no data	0.00082% $ 399.1k
Angie Kolar	VP & Chief Compliance Officer	less than a year	no data	no data
Betsy Talton-Buck	VP & Chief Communications Officer	less than a year	no data	no data
Barbara Paul	Vice President of Human Resources	4yrs	no data	no data
Michael McClellan	Senior VP & Chief Strategy Officer	2.3yrs	no data	no data
Josh Raglin	Chief Sustainability Officer	4.2yrs	no data	no data

2.4yrs

Average Tenure

55yo

Average Age

Experienced Management: NFS's management team is considered experienced (2.4 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Alan Shaw	President	2yrs	US$13.42m	0.017% $ 8.1m
Thomas Bell	Independent Director	14.3yrs	US$345.32k	0.0026% $ 1.3m
Steven Leer	Lead Independent Director	25.3yrs	US$331.66k	0.0023% $ 1.1m
Mitchell Daniels	Independent Director	7.5yrs	US$385.32k	0.00032% $ 155.8k
Michael Lockhart	Independent Director	15.7yrs	US$310.93k	0.0027% $ 1.3m
Claude Mongeau	Independent Director	4.7yrs	US$285.93k	0.0063% $ 3.1m
Amy Miles	Independent Non-Executive Chairman of the Board	10.3yrs	US$499.60k	0.0013% $ 647.4k
John Thompson	Independent Director	11.3yrs	US$331.32k	0.0014% $ 681.4k
Marcela Donadio	Independent Director	7.5yrs	US$328.57k	0.000010% $ 4.9k
Thomas Kelleher	Independent Director	5.3yrs	US$305.93k	0% $ 0
Jennifer Scanlon	Independent Director	6.3yrs	US$300.32k	0.00027% $ 131.4k
Christopher Jones	Independent Director	4.3yrs	US$285.93k	0% $ 0

7.5yrs

Average Tenure

67yo

Average Age

Experienced Board: NFS's board of directors are considered experienced (7.5 years average tenure).

Norfolk Southern Management

Management criteria checks 2/4

Key information

Recent management updates

Norfolk Southern Corporation, Annual General Meeting, May 09, 2024

Norfolk Southern Corporation, Annual General Meeting, May 09, 2024

Norfolk Southern Corporation Announces Executive Changes

Norfolk Southern Corporation Announces Executive Changes, Effective April 9, 2024

Norfolk Southern Corporation Announces Changes to its Board

Norfolk Southern Corporation Announces Resignation of Ann A. Adams as Executive Vice President and Chief Transformation Officer, Effective March 16, 2024

Recent updates

First quarter dividend of US$1.35 announced

Now 22% undervalued

First quarter 2024 earnings released: EPS: US$0.23 (vs US$2.04 in 1Q 2023)

Norfolk Southern Corporation Posts Materials to its X Account

Norfolk Southern Corporation Declares Quarterly Dividend, Payable on May 20, 2024

Ancora Advisors Sends a Letter to Shareholders of Norfolk Southern

Norfolk Southern Corporation Posts Communication to its X Account

Norfolk Southern Corporation Reaches Agreement in Principle to Settle East Palestine Derailment Class Action

Norfolk Southern Corporation to Report Q1, 2024 Results on Apr 24, 2024

Ancora Advisors Sends Letter to Norfolk Southern Shareholders

Norfolk Southern Corporation, Annual General Meeting, May 09, 2024

Norfolk Southern Corporation, Annual General Meeting, May 09, 2024

Norfolk Southern Corporation Announces Executive Changes

Norfolk Southern Corporation Announces Executive Changes, Effective April 9, 2024

Ancora Urges Norfolk Southern's Board to Immediately Replace Current Leadership

Ancora Holdings Group Issues a Letter to Norfolk Southern Corporation

Ancora Advisors Issues a Statement to Shareholders of Norfolk Southern Corporation

Norfolk Southern Corporation Announces Changes to its Board

Norfolk Southern Corporation Announces Resignation of Ann A. Adams as Executive Vice President and Chief Transformation Officer, Effective March 16, 2024

Fourth quarter dividend of US$1.35 announced

New minor risk - Earnings quality

Full year 2023 earnings released: EPS: US$8.03 (vs US$13.92 in FY 2022)

Norfolk Southern Corporation Declares Quarterly Dividend, Payable on February 20, 2024

Norfolk Southern Corporation to Report Q4, 2023 Results on Jan 26, 2024

Now 21% undervalued

Norfolk Southern Corporation Launches AI Train Inspection Technology

New major risk - Financial position

Third quarter 2023 earnings released: EPS: US$2.11 (vs US$4.11 in 3Q 2022)

Norfolk Southern Appoints Public Engagement Chief

Norfolk Southern Corporation to Report Q3, 2023 Results on Oct 25, 2023

Second quarter 2023 earnings released: EPS: US$1.57 (vs US$3.46 in 2Q 2022)

Norfolk Southern Corporation Announces Quarterly Dividend on Its Common Stock, Payable August 21, 2023

Norfolk Southern Corporation Announces Board Appointments

Norfolk Southern Corporation to Report Q2, 2023 Results on Jul 27, 2023

Norfolk Southern Corporation Appoints Atkins Nuclear Secured to Lead Independent Safety Review

First quarter 2023 earnings released: EPS: US$2.04 (vs US$2.94 in 1Q 2022)

Full year 2022 earnings released: EPS: US$13.88 (vs US$12.16 in FY 2021)

James A. Squires Announces Not to Stand for Re-Election to the Board of Norfolk Southern Corporation

Norfolk Southern Corporation Declares Quarterly Dividend, Payable on February 21, 2023

Norfolk Southern Corporation to Report Q4, 2022 Results on Jan 25, 2023

Director recently sold €5.0m worth of stock

Norfolk Southern Corporation Announces Management Changes

Third quarter 2022 earnings released: EPS: US$4.09 (vs US$3.07 in 3Q 2021)

Norfolk Southern Corporation Declares Quarterly Dividend, Payable on November 21, 2022

Norfolk Southern Corporation to Report Q3, 2022 Results on Oct 26, 2022

Norfolk Southern Corporation Promotes Paul B. Duncan to Senior Vice Resident

Norfolk Southern Declares Quarterly Dividend, Payable on August 20, 2022

Second quarter 2022 earnings released: EPS: US$3.45 (vs US$3.29 in 2Q 2021)

Norfolk Southern Corporation to Report Q2, 2022 Results on Jul 27, 2022

Norfolk Southern Names Nabanita Nag Executive Vice President & Chief Legal Officer, Effective July 1

Now 21% undervalued after recent price drop

First quarter 2022 earnings released: EPS: US$2.93 (vs US$2.67 in 1Q 2021)

Norfolk Southern Corporation Announces Regular Quarterly Dividend, Payable on May 20, 2022

Norfolk Southern Corporation to Report Q1, 2022 Results on Apr 27, 2022

Norfolk Southern Corporation (NYSE:NSC) announces an Equity Buyback for $10,000 million worth of its shares.

Lead Independent Director recently sold €169k worth of stock

Norfolk Southern Corporation Announces Executive Changes

Clyde H. Allison Intends to Retire from His Position as Vice President and Controller of the Company, Effective March 1, 2022

R. J. Corman Railroad Group, LLC agreed to acquire two railroad branches from Norfolk Southern Corporation.

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Norfolk Southern Launches First-In-Class Industrial Site Search Engine

Third quarter 2021 earnings released: EPS US$3.06 (vs US$2.23 in 3Q 2020)

Second quarter 2021 earnings released: EPS US$3.29 (vs US$1.54 in 2Q 2020)

Norfolk Southern Corporation(NYSE:NSC) dropped from Russell 1000 Dynamic Index

Norfolk Southern Corporation Announces Guidance for the Year 2021

Chairman recently sold €4.6m worth of stock

Norfolk Southern Corporation Declares Quarterly Dividend, Payable on May 20, 2021

Norfolk Southern Terminates Project on Former Chattahoochee Brick Company Site

New 90-day high: €212