Norfolk Southern Corporation (NYSE:NSC) Chief Executive Alan Shaw is expected to step down this week as the company investigates an alleged relationship with an employee.
The railroad's board announced on Sunday that it had launched an inquiry into potential ethics violations by Shaw and has engaged a law firm for an independent investigation.
Also Read: Norfolk Southern Poised for Long-Term Efficiency, Analyst Projects Improved Operating Ratios.
The Wall Street Journal noted that several challenges have marred Shaw's leadership at Norfolk Southern. A notable incident under his tenure was the February 2023 train derailment in East Palestine, Ohio, where toxic chemicals spilled, sparking a major environmental clean-up and new safety
