Norfolk Southern Says Investigating CEO Over Alleged Misconduct

Board Launched Investigation in Mid-February

The board of directors for Norfolk Southern, one of the nation's largest railroads, launched an investigation into Chief Executive Officer Alan Shaw in mid-February over allegations of "personal conduct." The board hired the law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP to conduct the investigation. The investigation is ongoing, and the board has not yet released any findings.

Shaw has been CEO of Norfolk Southern since 2015. He is a 36-year veteran of the railroad industry. Prior to joining Norfolk Southern, Shaw was president and CEO of CSX Transportation. He is also a former chairman of the Association of American Railroads.

Allegations Not Publicly Released

The specific allegations against Shaw have not been made public. However, the investigation is reportedly focused on his personal conduct. The investigation is also reportedly looking into whether Shaw violated any company policies.

Norfolk Southern is a major player in the U.S. rail industry. The company operates approximately 19,500 miles of track in 22 states and the District of Columbia. Norfolk Southern also operates a fleet of approximately 1,400 locomotives and 54,000 railcars.

The investigation into Shaw is a serious matter for Norfolk Southern. The company's board of directors is responsible for overseeing the company's operations and ensuring that the company is being run in a responsible manner. The investigation is also likely to have a significant impact on Shaw's career.

Shaw has not commented on the investigation. The company has also declined to comment, citing the ongoing investigation.