Norfolk Southern opens investigation into conduct of CEO Alan Shaw

Norfolk Southern acknowledged that its board of directors has opened an investigation into allegations of potential conduct by CEO Alan Shaw that is inconsistent with the company’s Code of Ethics and company policy. The company said, “Norfolk Southern holds all its team members to the highest standards. In line with the company’s Code of Conduct and company policy, allegations of misconduct are thoroughly investigated. The code also includes resources for employees to anonymously report concerns, including through the Ethics & Compliance Hotline. The Board of Directors’ Audit Committee has retained a law firm to conduct an independent investigation of the allegations and is committed to a complete and reliable examination of all pertinent facts. To ensure a fair investigation, the company and the Board cannot comment further until the investigation is complete.”