Environment

Norfolk Southern CEO received 37% raise following derailment

CNN By Chris Isidore,

 Credit: James St. John

Tags
Ohio Train Derailment
Train Derailment
Corporate Greed

Norfolk Southern CEO Alan Shaw received a 37% increase in compensation last year, even after the company’s railroad was involved in a financially and ecologically disastrous derailment in East Palestine, Ohio.

Shaw received $13.4 million in total compensation in 2023, up from $9.8 million in 2022. His base salary rose $200,000 to $1.1 million, and his stock and option awards rose $2.2 million to $10 million.

Last year was Shaw’s first full year as CEO after starting on May 1, 2022, so part of the increase in compensation can be attributed to having worked more months on the job last year than the year earlier. But he was president of the company in the first four months of 2022, and his promotion to that role in late 2021 had already resulted in his compensation more than doubling in 2022 compared to 2021.