FW: Ancora didn’t oust Norfolk Southern’s Shaw at first but ultimately succeeded

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FREIGHTWAVES reports:

In the end, Ancora got its man. 

In a stunning turn of events that could not have been foreseen when Alan Shaw, then the CEO of Norfolk Southern (NYSE: NSC), swatted away a proxy battle by Ancora Holdings in May to have him removed from his job, Shaw is now gone anyway.

He was felled soon after the launch of an investigation of a personal relationship with the company’s chief legal officer, Nabanita C. Nag. 

And according to an explosive piece in The Wall Street Journal, it was Ancora that spurred the investigation that was disclosed to the public on Sunday but which had at least proceeded far enough by Wednesday that Shaw and Nag were both dismissed. They leave the company without severance…

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