Norfolk Southern is investigating CEO Alan Shaw for possible misconduct related to behavior that may violate the company’s ethics code.

The board has hired a law firm for an independent probe, which reportedly involves an alleged workplace relationship.

The investigation is in its early stages. Shaw, who became CEO in May 2022, faced prior scrutiny over his handling of a major train derailment in East Palestine, Ohio, and pressure from activist investors, CBS News has reported.

Despite these challenges, Norfolk Southern’s stock rose 1.4% to $253.50 as of midday Monday.

Written by B.C. Begley