Alan Shaw, President and CEO, Norfolk Southern at the NYSE, June 7, 2022.
Norfolk Southern CEO Alan Shaw is out effective immediately after the board determined he engaged in a consensual relationship with chief legal officer Nabanita Nag, the company announced Wednesday.
The company announced Nag would be terminated as well, based on the board's preliminary investigation.
"I am honored to take on this role and lead Norfolk Southern," George said in a press release.
George has served as Norfolk Southern's CFO for nearly five years and was integral to the company's efforts to stave off activist investor Ancora.
Persons:
Alan Shaw, Nabanita Nag, Mark George, Nag, Shaw, George, Ancora
Organizations:
Norfolk, NYSE, Norfolk Southern, CNBC
Locations:
Norfolk Southern, Norfolk