Alan H. Shaw
Alan Shaw | |
|---|---|
| Alma mater | Virginia Tech (BS and MBA) Harvard Business School |
| Occupation | Business executive |
| Title | President and CEO of Norfolk Southern |
| Predecessor | James A. Squires |
Alan Howard Shaw is the president and chief executive officer of Norfolk Southern, a Class I railroad operating freight trains in the United States. He has held the CEO position since May 1, 2022.[1][2]
Early life[edit]
Shaw attended Virginia Tech and received a Bachelor of Science in Aerospace Engineering[3] in 1989 and a Master of Business Administration there in 1992. At Harvard Business School, he completed the General Management Program in 2012.[4][5][6][1][7][8] He is a chartered financial analyst.[3]
Career[edit]
Prior to becoming president of Norfolk Southern in 2021 and CEO in 2022, Shaw was executive vice president and chief marketing officer at the company for six years. He had previously been vice president of intermodal operations at the company. His first vice president position at Norfolk Southern was vice president of chemicals, beginning in 2009. He also sits on the board of Virginia Wesleyan University. He sits on the boards of other educational institutions as well.[2][1][9][7][8]
When Shaw became CEO in 2022, he had 27 years of experience at Norfolk Southern in marketing, operations, and finance.[3]
In December 2022, Shaw announced a new strategy for Norfolk Southern at the company's Investor Day, the first since he became CEO, that placed less of a focus on operating ratio and precision scheduled railroading. Precision scheduled railroading is a method that the Class I railroads deployed to streamline operations, particularly during the COVID-19 pandemic. Shaw's strategy, instead, focuses on building the resources required to provide reliable service throughout the year, instead of frequently furloughing employees. The plan also includes investing in locomotives, track improvements, rail yards, technology, and employee training during economic downturns.[10][11][12]
He has drawn attention in the wake of the February 3, 2023 East Palestine railroad derailment of a 150-car train and chemical leakage in East Palestine, Ohio.[13] He visited the community in the week following the accident. He followed this with a public letter to the community, which began, "We will not walk away, East Palestine." On a second visit he met with the city's Mayor Trent Conaway, Congressman Bill Johnson, Fire Chief Keith Drabick, and first responders.[14][15] On February 22, 2023, he appeared at a town hall on CNN hosted by Jake Tapper. In the town hall, he apologized to East Palestine residents, saying, "I'm terribly sorry for what has happened to your community." He added, "I want you to know that Norfolk Southern is here, and we're going to stay here. And we're going to make this right."[16]
Shaw's compensation in 2023 increased by 37% in his first full year as CEO. His total pay grew from $9.8 million (US) in 2022 to $13.4 million (US) in 2023, with base improving to $1.1 million and stock options rising from $2.2 million to $10 million.[17]
Under Alan Shaw's management, Norfolk Southern has implemented several safety protocols as part of a six-point safety plan in which Norfolk Southern will add about 200 more hot bearing detectors to its rail network.[18]
In May 2023, Shaw and 12 union leaders, issued a safety letter to employees and union members committing to enhanced rail safety for employees and communities served by Norfolk Southern.[19]
Under Shaw, Norfolk Southern reported 37% fewer accidents on its main lines in the first 10 months of 2023 than in the same period of 2022. Norfolk Southern was the only one of the top five freight railroads with a decrease in accidents during this time period.[20]
References[edit]
- ^ a b c "Alan H Shaw, Norfolk Southern Corp: Profile and Biography". Bloomberg.com. Retrieved 2023-05-24.
- ^ a b "Who is Alan Shaw? 6 things to know about the CEO, Norfolk Southern". The Enquirer. Retrieved 2023-05-24.
- ^ a b c Saporta, Maria (2021-12-02). "Norfolk Southern's Jim Squires to retire May 1; Alan Shaw to become CEO". Saporta Report. Retrieved 2024-04-25.
- ^ McBride, Jessica (2023-02-16). "Alan Shaw, Norfolk Southern CEO: 5 Fast Facts You Need to Know". Heavy.com. Retrieved 2023-08-26.
- ^ "Virginia Tech grad selected as Norfolk Southern's next CEO". News/Talk 960-AM & FM-107.3 WFIR. 2021-12-02. Retrieved 2023-08-26.
- ^ "Norfolk Southern's Shaw to succeed Squires as CEO (updated)". Trains. 2021-12-02. Retrieved 2023-08-26.
- ^ a b McBride, Jessica (2023-02-16). "Alan Shaw, Norfolk Southern CEO: 5 Fast Facts You Need to Know". Heavy.com. Retrieved 2023-05-24.
- ^ a b "Alan Shaw - Speaker Bio - FreightWaves Events". live.freightwaves.com. Retrieved 2023-05-24.
- ^ Jones, Evan (2021-12-02). "Virginia Tech grad selected as Norfolk Southern's next CEO". News/Talk 960-AM & FM-107.3 WFIR. Retrieved 2023-05-24.
- ^ "NS: 'A Franchise Built for Growth' Says Shaw". Railway Age. December 8, 2022. Retrieved 2023-06-09.
- ^ "Norfolk Southern moving away from furloughs to help improve labor relations". FreightWaves. Retrieved 2023-06-09.
- ^ "Norfolk Southern Decides to Take a Different Track". www.bloomberg.com. June 2, 2023. Retrieved 2023-06-09.
- ^ Michael Kaplan (February 15, 2023). "Excess size caused train to break down in days before it derailed in Ohio, employees say". CBS News. Retrieved February 15, 2023.
The employees say there were concerns among those working on the train over what they believed was the train's excessive length and weight — 151 cars, 9,300 feet long, 18,000 tons
- ^ Corporation, Norfolk Southern. "Alan Shaw: We will not walk away, East Palestine". www.prnewswire.com. Retrieved 2023-05-24.
- ^ "'We are going to do the right things': Norfolk Southern CEO Alan Shaw visits East Palestine". News 5 Cleveland WEWS. 2023-02-19. Retrieved 2023-05-24.
- ^ ""I'm terribly sorry." Norfolk Southern CEO apologizes to residents of East Palestine". CNN. 2023-02-23. Retrieved 2023-05-24.
- ^ Isidore, Chris (26 February 2024). "Norfolk Southern CEO received 37% raise following derailment | CNN Business". CNN.
- ^ Norman, Greg (2023-03-06). "Norfolk Southern announces 6-point safety plan in wake of Ohio toxic train derailment". Fox Business. Retrieved 2024-04-25.
- ^ "NS, 12 Unions Issue Joint Safety Letter". Railway Age. 2023-05-23. Retrieved 2024-04-25.
- ^ Eavis, Peter (2024-01-28). "After East Palestine, Ohio, Train Derailment, Accidents Have Risen". The New York Times. Retrieved 2024-04-25.