Norfolk Southern has ousted Alan Shaw as its CEO, saying the executive violated the Atlanta-based freight railroad’s policies by having a consensual relationship with a subordinate, it announced late Wednesday.
Also fired was its chief legal officer, Nabanita Nag, the employee with whom Shaw was said to be involved, according to initial findings from an ongoing investigation disclosed Sunday by the company’s board of directors. The company said it had hired a law firm to oversee an independent probe into allegations Shaw engaged in behavior inconsistent with the company’s code of ethics and policy.
“Shaw’s departure is unrelated to the company’s performance, financial reporting and results of operations,” Norfolk Southern said in a Wednesday news release.
Mark George, the railroad’s chief financial officer, is replacing Shaw as CEO, effective immediately.
Shaw in May survived a bid to oust him as CEO over complaints including his handling of last year’s toxic East Palestine, Ohio, train derailment and the poor performance of the company’s stock.
He began with Norfolk as a cost systems analyst in 1994, rising through its ranks to become CEO in May of 2022, according to a company bio of the executive.
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