Norfolk Southern fires CEO Alan Shaw for policy violation; appoints CFO Mark George as CEO

NORFOLK SOUTHERN CORP

Board terminated Alan H. Shaw for cause due to consensual relationship with Chief Legal Officer; no severance.
Mark R. George (previously EVP & CFO) appointed President & CEO and Board member effective immediately.
George receives $1M base salary, 225% annual incentive, and $4M equity award (50% RSUs, 50% options).
Jason A. Zampi named Acting CFO; Nabanita Nag terminated as Chief Legal Officer.
Company reaffirms full-year 2024 guidance provided on July 25, 2024.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Alan H. Shaw

President and Chief Executive Officer

NSC · NORFOLK SOUTHERN CORP

Effective: 2024-09-11
Successor: Mark R. George
Filed: September 12, 2024, 7:59 PM ET

terminated Alan H. Shaw, President and Chief Executive Officer of the Company, in connection with preliminary findings from an ongoing investigation conducted by independent counsel that determined Shaw violated Company policies by engaging in a consensual relationship with the Company’s Chief Legal Officer.

Role change

Mark R. George

President and Chief Executive Officer

NSC · NORFOLK SOUTHERN CORP

Effective: 2024-09-11
Filed: September 12, 2024, 7:59 PM ET

Mark R. George, the current Executive Vice President and Chief Financial Officer of the Company, has been appointed as President and Chief Executive Officer of the Company, as a member of the Board and as a member of the Executive Committee of the Board, effective immediately.

Appointed (interim)

Jason A. Zampi

Acting Chief Financial Officer

NSC · NORFOLK SOUTHERN CORP

Effective: 2024-09-11
Filed: September 12, 2024, 7:59 PM ET

Jason A. Zampi, the current Senior Vice President Finance & Treasurer, is being appointed as the Acting Chief Financial Officer of the Company, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Alan H. Shaw was terminated as President and Chief Executive Officer at NORFOLK SOUTHERN CORP.

Action: terminated
Role: President and Chief Executive Officer

Exact text from the filing

terminated Alan H. Shaw, President and Chief Executive Officer of the Company, in connection with preliminary findings from an ongoing investigation conducted by independent counsel that determined Shaw violated Company policies by engaging in a consensual relationship with the Company’s Chief Legal Officer.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Mark R. George changed role as President and Chief Executive Officer at NORFOLK SOUTHERN CORP.

Action: promoted
Role: President and Chief Executive Officer

Exact text from the filing

Mark R. George, the current Executive Vice President and Chief Financial Officer of the Company, has been appointed as President and Chief Executive Officer of the Company, as a member of the Board and as a member of the Executive Committee of the Board, effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Jason A. Zampi was appointed as Acting Chief Financial Officer at NORFOLK SOUTHERN CORP.

Action: appointed
Role: Acting Chief Financial Officer

Exact text from the filing

Jason A. Zampi, the current Senior Vice President Finance & Treasurer, is being appointed as the Acting Chief Financial Officer of the Company, effective immediately.

View on SEC.gov

NORFOLK SOUTHERN CORP filing history →

Source: SEC EDGAR

accession 0001193125-24-217556

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.