close
close

Yiamastaverna

Trusted News & Timely Insights

Norfolk Southern fires CEO and general counsel over consensual relationship
Iowa

Norfolk Southern fires CEO and general counsel over consensual relationship

Norfolk Southern reaches agreement with Justice Department and EPA over East Palestine derailment


Norfolk Southern reaches agreement with Justice Department and EPA over East Palestine derailment

00:54

Norfolk Southern has fired Alan Shaw as CEO. The executive violated the Atlanta-based freight railroad’s policies by having a consensual relationship with a subordinate, the company announced late Wednesday.

Also fired was general counsel Nabanita Nag, the employee with whom Shaw allegedly had dealings, according to initial findings of an ongoing investigation announced by the company’s board on Sunday. The company said it had hired a law firm to lead an independent investigation into the allegations against Shaw. engaged in behavior not in accordance with the company’s code of ethics and policies.

“Shaw’s departure has nothing to do with the company’s performance, financial reporting or results of operations,” Norfolk Southern said in a press release on Wednesday.

Mark George, the railway company’s chief financial officer, replaces Shaw as CEO with immediate effect.

In May, Shaw resisted an attempt to remove him as CEO amid complaints about his handling of last year’s toxic train derailment in East Palestine, Ohio, and the weak performance of the company’s stock.

He started at Norfolk in 1994 as a cost systems analyst and rose through the ranks until he became CEO in May 2022, according to a company biography of the executive.

LEAVE A RESPONSE

Your email address will not be published. Required fields are marked *