Neither Shaw nor Nag could be reached for comment on the decision.
Norfolk Southern Fires CEO : Corporate Turmoil and Recent Challenges
The leadership shake-up comes at a turbulent time for Norfolk Southern. The company fended off a board takeover attempt in May by investor group Ancora Catalyst Institutional LP, which had criticized Shaw’s leadership, citing poor customer delivery times, derailments, and share price underperformance. Ancora successfully secured three seats on Norfolk Southern’s 13-member board.
Adding to the company’s struggles, Norfolk Southern faced scrutiny after a train carrying hazardous materials derailed in East Palestine, Ohio, in early 2023. The incident led to large-scale contamination, forcing the evacuation of nearly 2,000 residents. Norfolk Southern has since faced significant backlash and ongoing litigation, including a proposed $600 million settlement with affected residents and businesses.
