Norfolk Southern CEO Alan Shaw was terminated immediately following an investigation by the company’s board. CFO Mark George will take over as CEO. Shaw was engaged in a consensual relationship with Chief Legal Officer Nabanita Nag. The board also revealed Nag would be terminated after a preliminary investigation. George has been Norfolk Southern’s CFO for nearly five years and played a key role in fending off activist investor Ancora. Jason Zampi will serve as interim CFO.
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00:00It's Benzinga, and here's what's on the block.
00:02Norfolk Southern CEO Alan Shaw was terminated effective immediately following an investigation
00:08by the company's board.
00:09CFO Mark George will take over as CEO.
00:12Shaw was engaged in a consensual relationship with Chief Legal Officer Nabanita Nag.
00:17The board also revealed Nag would be terminated after a preliminary investigation.
00:21George has been Norfolk Southern's CFO for nearly five years and played a key role in
00:26fending off activist investor Ancora.
00:28Jason Zampi will serve as interim CFO.
00:30For all things money, visit Benzinga.com.