Norfolk Southern Terminates CEO Alan Shaw, Citing Company Policy Violations — Update
By Connor Hart
The board of Norfolk Southern ousted Alan Shaw as the company's top executive.
The leadership change follows preliminary findings from an ongoing investigation which determined Shaw violated company policies by engaging in a consensual relationship with the company's chief legal officer, the rail company said Wednesday.
Shaw will be succeeded by Mark George, who since 2019 has served as the company's financial chief.
In relation to the investigation's preliminary findings, the company also fired Nabanita Nag from her roles of executive vice president of corporate affairs, legal chief, and corporate secretary.
Jason Zampi will serve as acting chief financial officer, and Jason Morris will serve as acting corporate secretary.
The company backed its guidance for a full-year adjusted operating ratio of 66%.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
September 11, 2024 19:28 ET (23:28 GMT)
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