Norfolk Southern CEO 2009 compensation falls 9 percent to $11 million
By APFriday, March 5, 2010
Norfolk Southern CEO makes $11 million in 2009
PHILADEPHIA — The Associated Press has found that Norfolk Southern Corp. CEO’s compensation fell 9 percent in 2009, as the railroad operator grappled with the economic downturn.
Charles Moorman’s compensation in 2009 was nearly $11 million, down from $12 million the year before, according to an AP analysis of a regulatory filing by the company.
In 2009, the company’s revenue fell to $8 billion from $10.7 billion. Profit also declined, to $1 billion, or $2.76 per share, compared with $1.7 billion, or $4.52 per share.
The AP’s executive pay calculation, based on a regulatory filing, aims to isolate the value the company’s board placed on the CEO’s total compensation package. The figure includes salary, bonus, incentives, perks and the estimated value of stock options and awards.
