Norfolk Southern investigating CEO over alleged misconduct
- The probe is related to an 'inappropriate workplace relationship': CNBC
- Norfolk Southern is looking at whether Shaw violated its ethics code
- The board has hired a law firm to conduct an independent investigation
Norfolk Southern CEO Alan Shaw, second from right, testifies before a Senate Commerce, Science, and Transportation Committee hearing on improving rail safety in response to the East Palestine, Ohio train derailment, on Capitol Hill in Washington, Wednesday, March 22, 2023. (AP Photo/Manuel Balce Ceneta)
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(NewsNation) — Norfolk Southern says it has launched an investigation into allegations of potential misconduct by CEO Alan Shaw.
The railroad company is reportedly looking into whether Shaw “engaged in an inappropriate workplace relationship,” according to CNBC, which cited three people familiar with the matter.
Norfolk Southern confirmed the misconduct probe in a statement Sunday but did not say whether it was related to a workplace relationship. The company said its audit committee is working with a law firm to “conduct an independent investigation of the allegations.”
CNBC said the probe is in its early stages.
Shaw has been CEO of the Atlanta-based railroad since May 2022. While in charge, he’s faced criticism for his handling of the toxic East Palestine, Ohio, derailment and fended off an activist investor’s attempt to oust him as CEO.
Last year, Shaw received a base salary of $1.1 million and total compensation topping $13.4 million.
“Norfolk Southern holds all its team members to the highest standards. In line with the company’s Code of Conduct and company policy, allegations of misconduct are thoroughly investigated,” the railroad said in its statement.
The company said it can’t comment further until the investigation is complete.
