(Reuters) – Norfolk South (NYSE:)’s CEO Alan Shaw is expected to step down from his role at the rail company amid an investigation into allegations of possible workplace misconduct, two sources familiar with the matter told Reuters on Monday.
The company said Sunday it is investigating allegations that Shaw violated its ethics policy.
Norfolk Southern did not immediately respond to Reuters’ request for comment. Shaw could not immediately be reached for comment. The sources asked not to be identified to discuss sensitive personnel matters.
The news comes just four months after Shaw, who was promoted to the top position in May 2022, survived a hedge fund’s attempt to oust him in a bitter proxy fight.
Norfolk Southern’s 13-member board is now tackling its third straight crisis, following this year’s boardroom battle with Ancora Holdings, where the activist investor won three board seats, and the 2023 train derailment in East Palestine, Ohio.
The Wall Street Journal first reported that Shaw is expected to leave his position.
