Norfolk Southern Corp. has fired CEO Alan Shaw and Chief Legal Officer Nabanita Nag following an internal investigation that revealed the two had a consensual relationship in violation of company policy. The Atlanta-based transportation giant announced the decision Wednesday evening, promoting Chief Financial Officer Mark R. George to the role of CEO, effective immediately.
Norfolk Southern Fires CEO : New Leadership
Mark R. George, who joined Norfolk Southern as CFO in 2019, was tapped to lead the company based on his extensive experience, including his time at United Technologies Co., now part of RTX Corp. Company chair Claude Mongeau expressed confidence in George’s leadership, noting his integral role in recent company progress and his commitment to safety.
“Mark embodies our corporate values and is a champion of our safety culture,” Mongeau said in a statement.
CEO Ouster and Company Investigation
Shaw’s departure follows an investigation launched just days ago after the company hired a law firm to look into conduct that allegedly violated its code of ethics. Shaw, who had served as CEO since May 2022 after taking over from James A. Squires, was Norfolk Southern’s Chief Marketing Officer before his promotion. Nag had been with the company since 2020 and became Chief Legal Officer in March 2022.
