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Norfolk Southern CEO to step down amid misconduct probe, sources say
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Norfolk Southern CEO to step down amid misconduct probe, sources say
Sep 10, 2024 12:17 PM

Sept 9 (Reuters) - Norfolk Southern's ( NSC ) CEO Alan

Shaw is expected to step down from his role at the railroad

company amid an investigation into allegations of potential

workplace misconduct, two sources familiar with the matter told

Reuters on Monday.

The company said on Sunday that it is reviewing allegations

that Shaw violated its ethics policy.

Norfolk Southern ( NSC ) did not immediately respond to Reuters'

request for comment. Shaw could not be immediately reached for

comment. The sources asked not to be identified to discuss

sensitive personnel matters.

The news comes just four months after Shaw, who was promoted

to the top job in May 2022, survived a hedge fund's push to oust

him in a bitter proxy fight.

Norfolk Southern's ( NSC ) 13-member board is now tackling its third

crisis in a row following this year's boardroom battle with

Ancora Holdings where the activist investor won three board

seats and the 2023 train derailment in East Palestine, Ohio.

The Wall Street Journal first reported that Shaw is expected

to leave his position.

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