ATLANTA — The Norfolk Southern Corp. Board of Directors has unanimously voted to fire President and CEO Alan H. Shaw for cause, effective immediately.
The board appointed Mark R. George, the company’s executive vice president and Chief Financial Officer, as President and Chief Executive Officer, effective immediately. George will also join the Norfolk Southern Board.
This change in leadership follows preliminary findings from an ongoing investigation that determined Shaw violated company policies by engaging in a consensual relationship with the company’s Chief Legal Officer. Shaw’s departure is unrelated to the company’s performance, financial reporting and results of operations.
Claude Mongeau, Chairman of the Norfolk Southern Board, said, “The Board has full confidence in Mark and his ability to continue delivering on our commitments to shareholders and other stakeholders. Mark has played an integral role in our recent progress and brings decades of financial experience and strong operational expertise. He embodies our corporate values and is a champion of our safety culture. In close partnership with our accomplished COO, John Orr, they will continue to improve NS’ operating performance and close the margin gap with peers.”
“I am honored to take on this role and lead Norfolk Southern,” said George. “I look forward to my continued partnership with John and the entire Thoroughbred team as we further our progress on optimizing operations and serving our customers, while creating a safe and satisfying workplace and delivering enhanced value for our employees, customers, shareholders, and communities.”
In connection with George’s appointment as Chief Executive Officer, Norfolk Southern announced that Jason A. Zampi will serve as acting Chief Financial Officer.
Norfolk Southern also announced that Nabanita C. Nag has also been terminated from her roles as executive vice president of corporate affairs, chief legal officer and corporate secretary, effective immediately, in connection with the preliminary investigation findings. Jason M. Morris will serve as acting Corporate Secretary.
