(Corrects paragraph 4 to say Shaw was appointed CEO in Could 2022, not joined Norfolk Southern (NYSE:) in Could 2022)
(Reuters) -Norfolk Southern’s CEO Alan Shaw is predicted to step down from his function amid an investigation into allegations of potential misconduct, the Wall Avenue Journal reported on Monday citing individuals conversant in the matter.
CNBC had reported on Sunday Shaw had engaged in an inappropriate office relationship, citing individuals conversant in the matter.
Norfolk Southern didn’t instantly reply to a Reuters request for remark.
Shaw was appointed because the CEO in Could 2022, changing Jim Squires.
In his tenure, Shaw has been underneath the crossfire a number of instances – from the derailment in East Palestine, Ohio in 2023 to a current boardroom battle with Ancora Holdings – and questions had been raised on whether or not he ought to proceed as the corporate’s CEO.
Shares of the corporate rose 2.7% in aftermarket commerce.
