Norfolk Southern board chair Mongeau resigns

Claude Mongeau, the former Canadian National Railway chief executive, has resigned as chair of the Norfolk Southern board of directors, the company announced Tuesday.

The resignation is for personal reasons, the railroad said. The board will elect a new chair at its next scheduled meeting later this month.

“We are deeply grateful for Claude’s leadership over the past six years,” Norfolk Southern Chief Executive Mark George said in a release. “He has put outsized time and effort into his service as the company navigated several challenges, ultimately stepping up as chair last year to successfully integrate our new board. He leaves Norfolk Southern (NYSE: NSC) a much stronger railroad than it was when he joined us.”

Mongeau joined the board as an independent director in 2019. He was elected as chairman in May 2024 during a reshuffling of the board that saw five new members join, including three nominated by activist investor Ancora Holdings during its proxy fight for control of the railroad. He was CN CEO from 2010 to 2016, capping 22 years at the railroad that also saw him serve as chief financial officer and vice president, strategic and financial planning.

“I am proud of the way the current board has come together to work collaboratively and constructively alongside the management team,” Mongeau said. “It has been an honor to serve with them. I have every confidence the company is back on the right trajectory and has what it needs for continued success.”

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