Printer Friendly

MCKINNON ADDRESSES NORFOLK SOUTHERN STOCKHOLDERS MEETING

 MCKINNON ADDRESSES NORFOLK SOUTHERN STOCKHOLDERS MEETING
 NORFOLK, Va., May 14 /PRNewswire/ -- "The changes we have witnessed, adapted to and profited from in these last 10 years rival those of any previous decade," Arnold B. McKinnon, Norfolk Southern (NYSE: NSC) chairman and chief executive officer, said at the corporation's annual stockholders meeting today.
 "We can't say what changes the next 10 years will bring in the market and in the economy. We can say that there will be changes. And we can say that Norfolk Southern will be ready for them, because we have, in the first 10 years, built a dynamic, forward-looking corporation.
 "We can also say that one thing will not change: Norfolk Southern's commitment to the basic values that have made us what we are today. It is our adherence to these values, in fact, that have enabled us to change with the times, weather a long recession and emerge stronger than ever."
 McKinnon, who retires Aug. 31, said the focus of his term has been "to strengthen Norfolk Southern as a world-class competitor -- to provide world-class transportation service to customers around the globe."
 Contrasting his five-year term of leadership with the 15 years that President David R. Goode has before reaching retirement age, McKinnon said: "One of the lessons I have learned is that five years is not enough time to develop, implement and see to completion major strategic initiatives....David will have that time -- and I have every confidence that he and the thoroughbred team that he leads will use it well."
 Three directors were re-elected to three-year terms: Robert B. Claytor, retired chairman and chief executive officer of Norfolk Southern; L.E. Coleman, chairman and chief executive officer, The Lubrizol Corporation; and T. Marshall Hahn Jr., chairman of the board and chief executive officer, Georgia-Pacific Corporation.
 Two new directors were elected: Landon Hilliard, partner, Brown Brothers Harriman & Co., and David R. Goode.
 R.L. Ireland III, partner, Brown Brothers Harriman & Co., retired from the board.
 -0- 5/14/92
 /CONTACT: Bob Fort, 804-629-2714, or Bob Auman, 703-981-5426, both of Norfolk Southern/
 (NSC) CO: Norfolk Southern Corporation ST: Virginia IN: TRN SU: PER


EA-BN -- CH006 -- 0181 05/14/92 11:34 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 14, 1992
Words:366
Previous Article:NATIONAL ENVIRONMENTAL GROUP ANNOUNCES THIRD QUARTER EARNINGS AND REORGANIZATION PLAN
Next Article:UNITED STATES SURGICAL CORPORATION ANNOUNCES QUARTERLY DIVIDEND
Topics:


Related Articles
NORFOLK SOUTHERN RAIL SUBSIDIARIES TO SPEND $739.9 MILLION ON CAPITAL IMPROVEMENTS IN 1992
NORFOLK SOUTHERN CHAIRMAN STATEMENT
NS CHAIRMAN CALLS 1995 'A VINTAGE YEAR'
NS OPENS '800' NUMBER FOR STOCKHOLDERS
Norfolk Southern Declares Quarterly Dividend
NS Extends Conrail Tender Offer
Norfolk Southern on Track for Growth, Goode Reports.
Norfolk Southern Adopts Shareholder Rights Plan.
Norfolk Southern Names Office Tower for Arnold Mckinnon, Observes its 25th Year.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters