NS Fires Shaw, Nag; Names George CEO (Updated with Commentary and Analysis)

ATLANTA –– Less than a week after a still-unknown person or persons at Norfolk Southern contacted CNBC and other media outlets alleging that President and CEO Alan H. Shaw was engaging in an “inappropriate workplace relationship” with another employee—setting off an internal investigation—the NS Board of Directors fired him and the company’s Executive Vice President Corporate Affairs, Chief Legal Officer and Corporate Secretary Nabanita C. Nag.

Plasser & Theurer Ground-Breaking Ceremony For New Factory

LINZ, Austria –– On 11 September, Plasser & Theurer, the global technology leader for track construction and maintenance machines, celebrated the ground-breaking ceremony for its new assembly and commissioning factory at the Pummererstrasse site in the Linz industrial area.

Reports: Shaw Departing NS Due to Misconduct Probe

ATLANTA –– The Wall Street Journal has reported that Norfolk Southern President and CEO Alan Shaw is expected to step down from his role amid an investigation into allegations of potential misconduct—“an inappropriate workplace relationship.” Various news reports, beginning with CNBC, said that the NS board of directors had hired outside legal counsel to investigate the matter; the railroad has confirmed that.