>>Norfolk Southern Railroad Announces Termination of CEO
(Atlanta, GA) -- The CEO of Norfolk Southern is out of a job because of alleged ethical lapses. Richard Stelling reports.Preview: Voicer Script:
Norfolk Southern officials confirm the company has fired CEO Alan Shaw for an inappropriate relationship with the chief legal officer who has also been fired, following a tumultuous two years in the top job and an investigation into alleged ethical lapses. WAVY reports the railroad promoted CFO Mark George to be the next CEO. Shaw faced challenges, including a major train derailment in Ohio and pressure from activist investor Ancora Holdings. The industry has faced calls for safety reforms since the derailment, but progress has been slow. Norfolk Southern is one of the six largest railroads in North America.