Norfolk Southern has ousted Alan Shaw as its CEO, saying the executive violated the Atlanta-based freight railroad’s policy by having a consensual relationship with a subordinate, it announced late Wednesday.
In addition, its general counsel, Nabanita Nag, the employee with whom Shaw was said to be involved, was fired, according to the initial findings of an ongoing investigation disclosed Sunday by the company’s board. The company said it had hired a law firm to oversee an independent investigation into the Shaw allegations engaged in behavior inconsistent with the company’s code of ethics and policy.
“Shaw’s resignation is unrelated to the company’s performance, financial reporting and operating results,” Norfolk Southern said in a Wednesday news release drop.
Mark George, the railway’s chief financial officer, replaces Shaw as CEO, effective immediately.
Shaw in May survived an attempt 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 joined Norfolk as a cost systems analyst in 1994, rising through the ranks to become CEO in May 2022, according to a company description of the executive.