US-based Norfolk Southern has fired its CEO Alan Shaw after finding out that he was engaged in a consensual relationship with legal chief Nabanita Nag, who will also be terminated based on the board’s preliminary investigation, CNBC reported.
Shaw will be replaced by finance chief Mark George. Norfolk Southern Corporation stated that, although the relationship was consensual, the two officials breached company policies and the code of ethics by being involved in it.
The company added that the decision to appoint George as permanent CEO was made unanimously.
Shaw will not be receiving his bonus or outstanding equity. His sudden dismissal follows the company’s recent investigation into his relationship with Nag, who had served as Norfolk’s chief legal officer since 2022. The inquiry intensified after the board made it public.
On her LinkedIn profile, Nabanita Nag describes herself as a “seasoned leader” who works with three Fortune 300 public companies. She previously worked at Goldman Sachs.