Norfolk Southern (NSC) has released an update to notify the public and investors about its officers.
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Ann A. Adams is set to leave her role as Executive Vice President and Chief Transformation Officer at Norfolk Southern Corporation on March 16, 2024, which is considered a “Good Reason” event under the company’s severance plan, qualifying her for certain benefits. To retain her expertise, the company has entered a Retention Agreement with Adams, ensuring her services until potentially July 31, 2025, to aid in departmental transitions, consultations, and support for litigation and upcoming labor negotiations. Upon her departure, Adams will receive severance benefits in line with the company’s previously disclosed Executive Severance Plan, including a lump sum payment, prorated incentives, and payments for outplacement and health coverage.
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For a comprehensive understanding of the announcement, you can read the full document here.