Change in Leadership at Norfolk Southern: CEO Alan Shaw Dismissed

The U.S.-based railroad company Norfolk Southern announced the dismissal of its CEO Alan Shaw on Wednesday. The reason for his removal is an inappropriate relationship with a subordinate. Shaw, whose tenure was marked by challenging years, is leaving the company only a few days after Norfolk Southern's board initiated an investigation into alleged ethical breaches. The Atlanta-based railroad company further stated that Shaw's relationship with the company's chief legal officer, who was also dismissed, was consensual. The position of CEO will henceforth be taken over by the current CFO, Mark George. During Shaw's tenure, Norfolk Southern experienced the most severe railroad accident of the last decade in February 2023. A train derailed in East Palestine, Ohio, releasing toxic chemicals and causing a fire. Recently, Shaw also faced a takeover attempt by activist investor Ancora Holdings, which sought to oust him from the company.