Norfolk Southern fires CEO Alan Shaw over inappropriate relationship
Alan Shaw, president and CEO, Norfolk Southern Corporation, testifies during a Senate Commerce, Science, and Transportation Committee hearing on Improving Rail Safety in response to the East Palestine Derailment on Capitol Hill on Wednesday, March 22
ATLANTA - Norfolk Southern has dismissed CEO Alan Shaw following the revelation of an inappropriate relationship with a subordinate, the railroad company said Wednesday.
Shaw’s termination comes after a challenging two-year tenure at the helm of the Atlanta-based company. The decision follows an internal investigation into ethical misconduct, announced just days earlier by Norfolk Southern's board.
The company disclosed that Shaw had been involved in a consensual relationship with its chief legal officer, who was also fired. In response, Norfolk Southern has promoted Chief Financial Officer Mark George to serve as its new CEO.
Shaw was at the forefront of Norfolk Southern during the February 2023 train derailment in East Palestine, Ohio, where toxic chemicals were spilled and ignited, marking the worst railroad disaster in a decade. Additionally, earlier this year, activist investor Ancora Holdings sought to oust Shaw and take control of the company.
The company stressed his ouster is "unrelated to the company's performance, financial reporting and results of operations."
With George’s appointment, Jason A. Zampi will serve as acting chief financial officer for the company.