Norfolk Southern's CEO Alan Shaw is under investigation for ethical lapses, including allegations of an inappropriate relationship with an employee, and is expected to resign soon.
Shaw, who faced considerable challenges including a major railroad disaster and pressure from activist investors, now confronts potential misconduct claims as the board investigates his conduct.
The board of Norfolk Southern has engaged an outside law firm to lead the probe into allegations against Shaw, citing inconsistencies with the company's code of ethics.
Despite three wins for Ancora Holdings on the board, the investor group was unable to gain full control, leaving Shaw to navigate increasing pressure and scrutiny.
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