Norfolk Southern CEO Alan Shaw Replaced by CFO After Alleged Affair With Legal Chief

Norfolk Southern CEO Alan Shaw has been replaced by Chief Financial Officer (CFO) James Squires after an alleged affair with the company's former legal chief.

The news was first reported by the Wall Street Journal, which cited anonymous sources familiar with the matter. According to the Journal, the affair was discovered during an internal investigation into other matters. Shaw was reportedly fired after the investigation concluded that he had violated company policy.

Shaw, a 30-year veteran of Norfolk Southern, had been CEO since 2019. Squires, who has been with the company since 2018, is a certified public accountant and has held various leadership roles in finance.

In a statement, Norfolk Southern said that it does not comment on personnel matters. However, the company did confirm that Shaw is no longer CEO and that Squires has been appointed as his replacement.

The news of Shaw's departure comes at a time when Norfolk Southern is facing a number of challenges, including the ongoing COVID-19 pandemic and the recent derailment of a train in Ohio that released toxic chemicals.

It is unclear what impact Shaw's departure will have on the company's operations. However, Squires is a well-respected executive with a strong track record in finance. He is likely to provide stability during this time of transition.