Norfolk Southern CEO Alan Shaw Under Investigation

Alan Shaw, CEO of Norfolk Southern, is under investigation for potential ethical violations related to an alleged relationship with an employee. The railroad confirmed the investigation and has hired an outside law firm to look into the matter. Reports indicate that Shaw may step down as soon as this week, as he faces increasing pressure following a major train derailment in East Palestine, Ohio, in early 2023, which resulted in significant financial repercussions and public scrutiny. Additionally, an activist investor campaign aimed at reforming the company's operations has added to the challenges during his tenure. While details regarding the allegations remain vague, this investigation comes at a critical time for Norfolk Southern, which is one of North America's largest railroads.