Norfolk Southern CEO set to quit following misconduct allegation

Norfolk Southern chief executive and president Alan Shaw is reportedly set to resign amidst a company-led investigation into alleged workplace misconduct.

The US rail operator confirmed on Sunday its board of directors had retained the services of a law firm, which would conduct what it said would be “an independent investigation” of the allegations that have been levelled at Mr Shaw.

Citing sources familiar with the matter, Reuters reported last night that the chief executive was now expected to step down from his role at the intermodal carrier.

Details of the allegations have not been made public, but news of the investigation comes just four months on from efforts by hedge fund Ancora to see Mr Shaw removed from the job he stepped into back in May 2022.

That boardroom chaos came on the back of the activist investor pushing to have seven new members elected to the 13-member board, eventually landing three.