Current:Home > StocksNorfolk Southern railroad says its CEO is under investigation for alleged ethical lapses-LoTradeCoin
Norfolk Southern railroad says its CEO is under investigation for alleged ethical lapses
View Date:2024-12-23 20:59:56
Norfolk Southern’s CEO Alan Shaw is under investigation for potential ethical lapses, the railroad confirmed Monday.
A spokeswoman for the Atlanta-based railroad that is one of North America’s six largest declined to offer any additional details about the nature of the allegations against Shaw, who was promoted to the top job in the spring of 2022 after decades at Norfolk Southern.
Shaw has been under tremendous pressure over the past 18 months. First, he had to deal with the worst railroad disaster in the past decade after a Norfolk Southern train derailed, spilled hazardous chemicals and caught fire in East Palestine, Ohio, prompting evacuations in February 2023. Then this year, Shaw had to fight to keep his job after activist investor Ancora Holdings nominated a full slate of board members in a bid to take control of the railroad and reform its operations, starting with firing Shaw.
Ancora declined to comment on the investigation Monday. Three of its nominees did win seats on the railroad’s board, but that wasn’t enough to give it control.
The railroad’s board said late Sunday that it had hired an outside law firm to investigate the allegations against Shaw that his conduct may be “inconsistent with the company’s code of ethics and company policy.”
Norfolk Southern is one of the largest railroads with operations all throughout the Eastern United States.
veryGood! (4)
Related
- Britney Spears reunites with son Jayden, 18, after kids moved in with dad Kevin Federline
- Activists Target Public Relations Groups For Greenwashing Fossil Fuels
- Confusion Over Line 5 Shutdown Highlights Biden’s Tightrope Walk on Climate and Environmental Justice
- A Commonsense Proposal to Deal With Plastics Pollution: Stop Making So Much Plastic
- 'Gladiator 2' review: Yes, we are entertained again by outrageous sequel
- Twitter says parts of its source code were leaked online
- Honda recalls more than 330,000 vehicles due to a side-view mirror issue
- Medical bills can cause a financial crisis. Here's how to negotiate them
- Officer injured at Ferguson protest shows improvement, transferred to rehab
- Anheuser-Busch CEO Addresses Bud Light Controversy Over Dylan Mulvaney
Ranking
- My Chemical Romance returns with ‘The Black Parade’ tour
- Actor Julian Sands Found Dead on California's Mt. Baldy 6 Months After Going Missing
- Warming Trends: How Urban Parks Make Every Day Feel Like Christmas, Plus Fire-Proof Ceramic Homes and a Thriller Set in Fracking Country
- Medical bills can cause a financial crisis. Here's how to negotiate them
- Amazon Prime Video to stream Diamond Sports' regional networks
- A judge sided with publishers in a lawsuit over the Internet Archive's online library
- Photo of Connecticut McDonald's $18 Big Mac meal sparks debate online
- The Navy Abandons a Plan to Develop a Golf Course on a Protected Conservation Site Near the Naval Academy in Annapolis
Recommendation
-
Father sought in Amber Alert killed by officer, daughter unharmed after police chase in Ohio
-
In San Francisco’s Bayview-Hunters Point Neighborhood, Advocates Have Taken Air Monitoring Into Their Own Hands
-
NASCAR Addresses Jimmie Johnson Family Tragedy After In-Laws Die in Apparent Murder-Suicide
-
Adam Sandler's Daughter Sunny Sandler Is All Grown Up During Rare Red Carpet Appearance
-
Jason Statham Shares Rare Family Photos of Rosie Huntington-Whiteley and Their Kids on Vacation
-
On the Defensive a Year Ago, the American Petroleum Institute Is Back With Bravado
-
Confusion Over Line 5 Shutdown Highlights Biden’s Tightrope Walk on Climate and Environmental Justice
-
Russia detains a 'Wall Street Journal' reporter on claims of spying