Rathbone’s departure and Stewart’s succession will occur on November 1.

Stewart, who joined NS in 1983 and served in several finance positions before becoming vice-president and controller in 2000, executive vice-president administration in 2004, and executive vice-president finance and chief financial officer in 2012, will report to NS president James Squires.

Rathbone has served in the company’s administrative and finance division for 32 years.

He first joined Norfolk Southern predecessor Norfolk and Western Railway in 1981, then served in several auditing positions before being named vice-president and controller in 1992, senior vice-president and controller in 2000, executive vice-president administration in 2004 and executive vice-president finance and chief financial officer in 2012.

“We thank John Rathbone for his leadership, counsel, and numerous contributions that have been instrumental in building today's Norfolk Southern,” NS chief executive officer Wick Moorman said.

“I am confident that our company's history of financial excellence will be in good hands with Marta Stewart.”

Norfolk Southern has about 20,000 route miles in 22 US states and the District of Columbia.