Norfolk Southern Corporation has announced the promotion of Jason A. Zampi to the position of Senior Vice President Finance & Treasurer, effective August 20, 2024. In this role, Zampi will oversee financial planning, treasury, and investor relations, succeeding Chris Ceraso. He will report directly to CFO Mark George [0de63cdd]. Zampi has been with Norfolk Southern since 2011 and previously served as Vice President and Controller. He is a Certified Public Accountant (CPA) and holds a Bachelor of Science in Accounting from Pennsylvania State University [0de63cdd].
This leadership change comes at a time when Norfolk Southern is navigating significant challenges following a train derailment in East Palestine, Ohio, which has resulted in substantial financial settlements and commitments to improve rail safety [bd88cc69]. The company has agreed to a $310 million settlement with the U.S. Environmental Protection Agency (EPA) and the Justice Department, which includes funding for health monitoring and environmental protection initiatives in the affected community [bd88cc69].
In addition to these developments, the Internal Revenue Service (IRS) has determined that most financial assistance payments received by Ohio residents affected by the derailment will not be taxable, a decision praised by U.S. Senator Sherrod Brown of Ohio [ae249535]. Norfolk Southern has also been proactive in addressing its environmental impact, helping to avoid 15 million tons of carbon emissions annually through its operations [0de63cdd].
As the company continues to focus on recovery and sustainability, Zampi's experience and leadership will be crucial in steering Norfolk Southern through this transitional period [0de63cdd].