Norfolk Southern's board is investigating CEO Alan Shaw for allegations of an inappropriate workplace relationship. Outside legal counsel has been hired to assist in the probe, and it remains unclear if any misconduct will be uncovered. Norfolk Southern is one of a few Class 1 railroads that transports large amounts of commodities crucial to the nation's economy. Norfolk Southern's board has seen significant changes in recent months. An activist investor attempted to remove Shaw due to his handling of the East Palestine derailment, poor stock performance, and a perceived flawed operating strategy.
Category
🗞
NewsTranscript
00:00It's Benzinga, and here's what's on the block.
00:02Norfolk Southern's board is investigating CEO Alan Shaw for allegations of an inappropriate
00:07workplace relationship.
00:09Outside legal counsel has been hired to assist in the probe, and it remains unclear if any
00:13misconduct will be uncovered.
00:15Norfolk Southern is one of a few Class 1 railroads that transports large amounts of commodities
00:19crucial to the nation's economy.
00:21Norfolk Southern's board has seen significant changes in recent months.
00:25An activist investor attempted to remove Shaw due to his handling of the East Palestine
00:28derailment, poor stock performance, and a perceived flawed operating strategy.
00:32For all things money, visit Benzinga.com.