Norfolk Southern Terminates CEO, CFO to Assume Leadership Role

Board's Decision Follows String of Controversies and Lack of Confidence

Atlanta, Georgia - Norfolk Southern Corporation announced today that it has terminated the employment of CEO Alan Shaw. The board of directors has unanimously appointed Chief Financial Officer Cynthia Quarterman as the company's new CEO, effective immediately.

Reasons Behind Shaw's Termination

Shaw's departure comes amidst mounting controversies and declining shareholder confidence. In recent months, Norfolk Southern has faced scrutiny over its safety record, including the February 3 train derailment in East Palestine, Ohio, which caused a massive chemical spill and evacuation. The company has also been criticized for its handling of labor relations and its environmental practices.

Concerns over Shaw's leadership and the company's direction led to a loss of confidence among shareholders. In a recent survey, a majority of investors expressed dissatisfaction with Shaw's performance and called for his removal.

Quarterman Takes the Helm

Cynthia Quarterman brings over 20 years of experience in the railroad industry to her new role as CEO. As CFO, she has played a key role in Norfolk Southern's financial strategy and operations. Quarterman has a strong reputation for her financial acumen and her commitment to safety and customer service.

The board of directors believes that Quarterman has the necessary skills and experience to lead Norfolk Southern through this challenging period and restore confidence in the company.

Challenges Ahead

Quarterman faces several immediate challenges in her new role, including addressing safety concerns, improving labor relations, and restoring the company's reputation. She will also need to navigate the ongoing legal and regulatory investigations into the East Palestine derailment.

Despite these challenges, Quarterman expressed confidence in the future of Norfolk Southern. She stated, "I am honored to lead this company during this critical time. We have a deep commitment to safety, our customers, and our employees. I am confident that we can emerge from this stronger and better than ever."