Norfolk Southern Fires C.E.O. After Ethics Investigation; The New York Times, September 11, 2024

Peter Eavis and Danielle Kaye, The New York Times; Norfolk Southern Fires C.E.O. After Ethics Investigation

"Norfolk Southern, the beleaguered freight railroad giant, said on Wednesday that it had fired its chief executive, Alan H. Shaw, for having an affair with the company’s chief legal officer.

In a news release, Norfolk Southern said Mr. Shaw, who became chief executive in May 2022, had a consensual relationship with its top lawyer, Nabanita C. Nag, who was also fired.

Mark R. George, the company’s chief financial officer, was named president and chief executive officer, Norfolk Southern said.

“This change in leadership comes in connection with preliminary findings from an ongoing investigation that determined Shaw violated company policies” by engaging in a relationship with Ms. Nag, the company said. “Shaw’s departure is unrelated to the company’s performance, financial reporting and results of operations.”"

More CEOs are getting forced out for ethics violations; Washington Post, May 15, 2017

Jena McGregor, Washington Post; More CEOs are getting forced out for ethics violations

"If it seems like more CEOs are getting cast aside amid ethical blunders or corporate scandals, they are. According to a new report on CEO succession from Strategy&, PwC’s strategy consulting business, the percentage of CEOs getting pushed out for questionable behavior — lapses including environmental disasters,  insider trading, résumé fraud, accounting scandals and sexual misconduct — is up over the past five years."