Current:Home > StocksNorfolk Southern Alan Shaw axed as CEO after inappropriate employee relationship revealed -Prime Capital Blueprint
Norfolk Southern Alan Shaw axed as CEO after inappropriate employee relationship revealed
View
Date:2025-04-13 08:40:04
The chief executive officer of Norfolk Southern, one of America's leading freight carriers, has been fired after an ethics investigation found he engaged in an inappropriate relationship with a member of the rail business' legal team, the company announced Thursday.
Norfolk Southern's board of directors, in a unanimous decision announced Wednesday, said they had immediately terminated prescient and CEO Alan Shaw after "he violated company policies by engaging in a consensual relationship" with the company's legal chief."
"Shaw's departure is unrelated to the company's performance, financial reporting and results of operations," the Atlanta-based company wrote in a news release.
The board determined Shaw engaged in a consensual with Chief Legal Officer and Executive Vice President of Corporate Affairs Nabanita Nag.
Effective immediately, Nag was also fired in connection with the preliminary findings of the board's ongoing investigation, the release continues.
Storm tracker: See projected path of Hurricane Francine toward Louisiana coast
Who is Norfolk Southern's new CEO?
Also in a unanimous vote, the company appointed Mark R. George, the company's executive vice president and CFO, as president and CEO effective immediately and said he will also join the Norfolk Southern Board.
"The board has full confidence in Mark and his ability to continue delivering on our commitments to shareholders and other stakeholders," Norfolk Southern Board Chairman Claude Mongeau said in the statement. "Mark has played an integral role in our recent progress and brings decades of financial experience and strong operational expertise. He embodies our corporate values and is a champion of our safety culture."
'I look forward to my continued partnership'
The company, created in 1827, operates in 22 states, according to its website.
"I am honored to take on this role and lead Norfolk Southern," George said in the release. "I look forward to my continued partnership with John and the entire Thoroughbred team as we further our progress on optimizing operations and serving our customers, while creating a safe and satisfying workplace and delivering enhanced value for our employees, customers, shareholders, and communities."
In connection with George's appointment, Norfolk Southern said Jason A. Zampi will serve as acting CFO.
The 2023 East Palestine, Ohio derailment
Last year, on Feb. 3, one of Norfolks' trains derailed in East Palestine, Ohio near the Pennsylvania border.
Residents initially watched the fires from the crash and were later evacuated as officials feared a potential hazardous chemical explosion, and they executed the vent and burn.
National Transportation Safety Board officials have said an overheated bearing on one of the railcars likely caused the crash, but questions remained about whether that could have been prevented and whether officials made the right choice to burn off the vinyl chloride.
In June, the NTSB recommended Norfolk Southern revise its incident report about the derailment to reflect the vent and burn of vinyl chloride were not necessary.
Natalie Neysa Alund is a senior reporter for USA TODAY. Reach her at [email protected] and follow her on X @nataliealund.
veryGood! (6646)
Related
- Residents worried after ceiling cracks appear following reroofing works at Jalan Tenaga HDB blocks
- UAW appears to be moving toward a potential deal with Ford that could end strike
- Senate panel OKs Lew to be ambassador to Israel, and a final confirmation vote could come next week
- Israel's war on Hamas sees deadly new strikes in Gaza as U.S. tries to slow invasion amid fear for hostages
- Pressure on a veteran and senator shows what’s next for those who oppose Trump
- 'The Comfort of Crows' is fuel to restore spirts in dealing with ecological grief
- RHOBH's Kyle Richards Pokes Fun at Cheating Rumors in Season 13 Taglines
- 'A Christmas Story' house sold in Cleveland ahead of film's 40th anniversary. Here's what's next.
- Where will Elmo go? HBO moves away from 'Sesame Street'
- A new RSV shot could help protect babies this winter — if they can get it in time
Ranking
- Realtor group picks top 10 housing hot spots for 2025: Did your city make the list?
- Pennsylvania Senate passes bill opponents worry targets books about LGBTQ+ and marginalized people
- Montana man pleads not guilty to charges he threatened to kill ex-House Speaker McCarthy
- Montana man pleads not guilty to charges he threatened to kill ex-House Speaker McCarthy
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- 'The Voice': Gwen Stefani threatens to 'spank' singer Chechi Sarai after 'insecure' performance
- Actor Cedric Beastie Jones Dead at 46
- Activists demand transparency over Malaysia’s move to extend Lynas Rare Earth’s operations
Recommendation
Bill Belichick's salary at North Carolina: School releases football coach's contract details
8 Akron police officers involved in Jayland Walker shooting are back on active duty
Olympic Skater Țara Lipinski Welcomes Baby With Husband Todd Kapostasy Via Surrogate
Deion Sanders, bearded and rested after bye, weighs in on Michigan, 'Saturday Night Live'
What do we know about the mysterious drones reported flying over New Jersey?
Katy Perry and Orlando Bloom's Cutest Pics Will Have You Feeling Like a Firework
Iowans claiming $500,000 and $50,000 lottery prizes among scratch-off winners this month
After 4 years, trial begins for captain in California boat fire that killed 34