May 28 (Reuters) - Norfolk Southern ( NSC ) has named
former Canadian National Railway CEO Claude Mongeau as
the new chair of its board, effective immediately, the company
said in a statement on Tuesday.
A veteran railroad executive, Mongeau has been on
Norflok's board since 2019 and replaces previous board chair Amy
Miles, who shareholders ousted earlier this month.
The Atlanta-Georgia-based freight railroad also saw off
an activist investor campaign led by hedge fund Ancora Holdings
at the same shareholder meeting
earlier in May
, winning 10 of 13 seats on the board.
Mongeau has previously served in various executive
positions at Canadian National, where he drove a
customer-centric PSR (precision scheduled railroading) approach.
There is an "urgency around enhancing service,
improving network operations, and broad-based productivity gains
to close the gap with our peers," he said in statement.
The company
last week
agreed to pay $15 million in civil penalties and $57.1
million in past government cleanup costs, related to its
derailment in East Palestine, Ohio, in February last year,
taking the total charges around derailment to $1.7 billion.
(Reporting by Abhinav Parmar in Bengaluru; Editing by Anil
D'Silva and Tasim Zahid)