Norfolk Southern Fires CEO Alan Shaw

Norfolk Southern Corporation has terminated CEO Alan Shaw and chief legal officer Nabanita Nag following the discovery of an inappropriate consensual relationship between them. This decision follows an internal investigation into Shaw for alleged violations of company policies, though Norfolk Southern clarified that his dismissal is unrelated to the company's financial performance or operational results. Mark George, previously the company's CFO, has been appointed as the new CEO, with the board expressing confidence in his leadership amid recent challenges, including train derailments and pressure from activist investors. Shaw's tenure as CEO has been marked by difficulties, including the fallout from a significant train derailment in East Palestine, Ohio. Both Shaw and Nag's departures are part of ongoing efforts to uphold company standards and governance. The changes in leadership come at a time when Norfolk Southern is under scrutiny for safety practices following the derailments.