Norfolk Southern Shows The Door to CEO and Indian origin lawyer over ‘inappropriate relationship’
Norfolk Southern Corporation has sacked CEO Alan Shaw and Executive Vice President Nabanita C Nag after it was revealed that the two are engaged in an inappropriate relationship and the two officials contravened the company policies and code of ethics by fostering a consensual relationship.
The company has appointed Mark R George as the new President and CEO while Jason A Zampi will be the acting Chief Financial Officer during this transition period.
Norfolk Southern Dismisses CEO and Indian-Origin Lawyer
In a press statement, the company stated that the changes had been made after finding Shaw and Nag violated the company policies by engaging in a consensual relationship. The corporation also made it clear that Shaw’s departure is unconnected to the company’s performance, financial reporting and results of operations.
The statement said,
“Norfolk Southern also announced that Nabanita C Nag has been terminated from her roles as Executive Vice President Corporate Affairs, Chief Legal Officer & Corporate Secretary, effective immediately, in connection with the preliminary findings of the Board’s ongoing investigation. Jason M. Morris will serve as acting Corporate Secretary”.
After Shaw’s ouster Norfolk decreed that independent directors will be appointed and thus Mark R George, the company’s Executive Vice President and Chief Financial Officer, as President and Chief Executive Officer was appointed with immediate effect.
Claude Mongeau, Chairman of the Norfolk Southern Board, said,
“The Board has full confidence in Mark and his ability to continue delivering on our commitments to shareholders and other stakeholders. Mark has played an integral role in our recent progress and brings decades of financial experience and strong operational expertise. He embodies our corporate values and is a champion of our safety culture. In close partnership with our accomplished COO, John Orr, they will continue to improve NS’ operating performance and close the margin gap with peers.”
The new CEO Mark R George is no novice but is a seasoned executive with over 35 years of professional experience and has been giving his services as EVP and Chief Financial Officer of Norfolk Southern since 2019
After taking his new responsibilities George stated that he is honored to continue his association with John and the entire Thoroughbred team. He will aim to create a fulfilling workplace and deliver improved value for our workers, clientele, shareholders, and communities
He also announced the appointment of Jason A. Zampi as acting Chief Financial Officer.
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