Norfolk Southern (NS) railway has fired CEO Alan Shaw after an internal investigation found he was engaging in a love affair contrary to corporate policy with the firm's in-house lawyer, who was also sacked.
Chief financial officer Mark George has been appointed president and CEO and will join the board, reported New York's Journal of Commerce.
'Shaw's departure is unrelated to the company's performance, financial reporting and results of operations,' NS said in a statement.
Nabanita Nag, was also fired from her positions as executive vice president of corporate affairs, and corporate secretary, after her illicit affair with the married Shaw came to light following an internal investigation.
Mr Shaw joined NS in 1994, working his way up from entry-level jobs in finance, marketing, and operations to chief marketing officer in 2015. Six years later, he was tapped for the top job when then-CEO Jim Squires announced his retirement.
His nearly four-year tenure at the helm of NS has been turbulent.
While the East Palestine derailment and a proxy battle with Ancora Holdings were high-profile events, Mr Shaw's tenure was marked by other challenges.
Early in his leadership, norfolk Southern had two fires in Jacksonville, where cranes transferring containers between trains were destroyed in December 2021 and March 2022, leading to significant intermodal delays.
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Chief financial officer Mark George has been appointed president and CEO and will join the board, reported New York's Journal of Commerce.
'Shaw's departure is unrelated to the company's performance, financial reporting and results of operations,' NS said in a statement.
Nabanita Nag, was also fired from her positions as executive vice president of corporate affairs, and corporate secretary, after her illicit affair with the married Shaw came to light following an internal investigation.
Mr Shaw joined NS in 1994, working his way up from entry-level jobs in finance, marketing, and operations to chief marketing officer in 2015. Six years later, he was tapped for the top job when then-CEO Jim Squires announced his retirement.
His nearly four-year tenure at the helm of NS has been turbulent.
While the East Palestine derailment and a proxy battle with Ancora Holdings were high-profile events, Mr Shaw's tenure was marked by other challenges.
Early in his leadership, norfolk Southern had two fires in Jacksonville, where cranes transferring containers between trains were destroyed in December 2021 and March 2022, leading to significant intermodal delays.
SeaNews Turkey
