Norfolk Southern Corporation has appointed Mark George as its new President & CEO, replacing Alan Shaw who was terminated for violating company policies. Despite the leadership change, BofA Securities analyst Ken Hoexter maintains a Buy rating on the stock, citing the company’s commitment to improving operational efficiency and closing the margin gap with its peers.
International Paper has announced that Andy Silvernail, the company’s CEO, has been elected Chairman of the Board of Directors, effective October 1, 2024. This follows the retirement of Mark Sutton from the Board on September 30, 2024.
Norfolk Southern CEO Alan Shaw is expected to step down this week as the company investigates an alleged relationship with an employee. The investigation follows a series of challenges during Shaw’s tenure, including the East Palestine train derailment and criticism from activist investors.
Norfolk Southern Corporation’s board has launched an investigation into allegations of inappropriate workplace conduct against CEO Alan Shaw. The investigation was triggered by reports of an inappropriate relationship, leading to the hiring of a law firm to conduct an independent review. This comes after a shareholder vote in May that saw Shaw retain his position despite pressure from activist investor Ancora for a management overhaul.
Udman Hotels & Resorts, known for its boutique and luxury hospitality, has appointed Vaibhav Verma as its new CEO. With a 28-year career in hospitality, Verma brings extensive experience and strategic vision to lead Udman’s ambitious expansion plans, aiming to grow its portfolio from 7 to 50 properties in the next five years.
Walt Ehmer, the long-time president and CEO of Waffle House, has died at the age of 58 after a long illness. Ehmer joined the company in 1992 and quickly rose through the ranks, becoming president in 2002 and later taking on the roles of CEO and chairman. He was also a prominent figure in the Georgia Tech community, serving as chair of the Alumni Association Board of Trustees.
Corning Energy Corporation announced that CEO Michael German will retire at the end of 2024 after 18 years with the company and 48 years in the energy sector. He will transition to a consultant role and remain on the board of directors. The company has begun searching for his successor.
Travel Sentry, a global leader in travel security standards, has announced Maya Hall as its new CEO. Hall, a veteran of the company with over a decade of experience, will continue to build on the success of outgoing CEO Florent Perrichon, who led the company’s global expansion and sustainability initiatives.
Chelsea Football Club announced the departure of CEO Chris Jurasek, who will be returning to Clearlake Capital, the club’s co-controlling owners. Jurasek’s tenure was marked by controversial decisions, including referring to fans as customers and ending a long-standing bus subsidy for away supporters. He will be replaced by Jason Gannon.
Royal Helium Ltd. has announced a leadership change, with David Young taking over as CEO and Andrew Davidson resigning. The company also saw departures from its VP of Engineering and VP of Investor Relations. The new CEO brings extensive experience in the resource industry and is focused on optimizing the company’s helium purification infrastructure.
