Current:Home > InvestNorfolk Southern railroad says its CEO is under investigation for alleged ethical lapses -GoldenEdge Insights
Norfolk Southern railroad says its CEO is under investigation for alleged ethical lapses
View
Date:2025-04-17 20:52:04
Norfolk Southern’s CEO Alan Shaw is under investigation for potential ethical lapses, the railroad confirmed Monday.
A spokeswoman for the Atlanta-based railroad that is one of North America’s six largest declined to offer any additional details about the nature of the allegations against Shaw, who was promoted to the top job in the spring of 2022 after decades at Norfolk Southern.
Shaw has been under tremendous pressure over the past 18 months. First, he had to deal with the worst railroad disaster in the past decade after a Norfolk Southern train derailed, spilled hazardous chemicals and caught fire in East Palestine, Ohio, prompting evacuations in February 2023. Then this year, Shaw had to fight to keep his job after activist investor Ancora Holdings nominated a full slate of board members in a bid to take control of the railroad and reform its operations, starting with firing Shaw.
Ancora declined to comment on the investigation Monday. Three of its nominees did win seats on the railroad’s board, but that wasn’t enough to give it control.
The railroad’s board said late Sunday that it had hired an outside law firm to investigate the allegations against Shaw that his conduct may be “inconsistent with the company’s code of ethics and company policy.”
Norfolk Southern is one of the largest railroads with operations all throughout the Eastern United States.
veryGood! (3381)
Related
- A South Texas lawmaker’s 15
- 'Like herding cats': Llamas on the loose in Utah were last seen roaming train tracks
- DOJ files lawsuit against Mississippi State Senate for severely underpaying Black staffer
- The Boy Scouts inspired Norman Rockwell. His works will now help pay abuse survivors
- What to know about Tuesday’s US House primaries to replace Matt Gaetz and Mike Waltz
- Alabama vs LSU live updates: Crimson Tide-Tigers score, highlights and more from SEC game
- Ella Emhoff Slams Rumors She's Been Hospitalized For a Mental Breakdown
- Democrat April McClain Delaney wins a US House seat in a competitive Maryland race
- San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo
- Gender identity question, ethnicity option among new additions being added to US Census
Ranking
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- Colorado, Deion Sanders control their own destiny after win over Texas Tech: Highlights
- Where is 'College GameDay' for Week 11? Location, what to know for ESPN show
- Are giant rats the future in sniffing out wildlife trafficking? Watch the rodents at work
- Federal court filings allege official committed perjury in lawsuit tied to Louisiana grain terminal
- How Ariana Grande Channeled Wizard of Oz's Dorothy at Wicked's Los Angeles Premiere
- 10 people stabbed in less than 2 days in Seattle, with 5 wounded Friday; suspect in custody
- Michigan jury awards millions to a woman fired after refusing to get a COVID-19 vaccine
Recommendation
The Daily Money: Spending more on holiday travel?
49ers' Nick Bosa fined for wearing MAGA hat while interrupting postgame interview
S&P 500 and Nasdaq extend rally after Fed cuts rates and hints at more ahead. Dow ends flat
Sean ‘Diddy’ Combs seeks bail, citing changed circumstances and new evidence
Travis Hunter, the 2
'Disclaimer' stars break down that 'horrific' and 'shocking' finale twist (spoilers)
Wicked Star Ethan Slater Shares Similarities He Has With His Character Boq
SEC showdowns with CFP implications lead college football games to watch in Week 11