Norfolk Southern CEO to step down amid misconduct probe, WSJ reports
by Reuters Sep 09, 2024
Norfolk Southern's CEO Alan Shaw is expected to step down from his role amid an investigation into allegations of potential misconduct, the Wall Street Journal reported on Monday citing people familiar with the matter.
CNBC had reported on Sunday Shaw had engaged in an inappropriate workplace relationship, citing people familiar with the matter.
Norfolk Southern did not immediately respond to a Reuters request for comment.
Shaw joined the company in May 2022, replacing Jim Squires as CEO.
In his tenure, Shaw has been under the crossfire multiple times - from the derailment in East Palestine, Ohio in 2023 to a recent boardroom battle with Ancora Holdings - and questions were raised on whether he should continue as the company's CEO.
Shares of the company rose 2.7% in aftermarket trade.
Reuters
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