- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-09-12T16:10:00
Norfolk Southern Corp., the railroad still cleaning up the environmental and financial damages caused when one of its trains derailed in a small Ohio town, has fired its top executive and chief legal officer after concluding they had an affair that violated company policies.
Norfolk Southern said that a preliminary investigation concluded that CEO Alan Shaw and executive vice president and chief legal officer Nabanita Nag violated company policies by engaging in a consensual relationship, according to a press release Wednesday. The company fired them each “for cause.”
“Shaw’s departure is unrelated to the company’s performance, financial reporting, and results of operations,” the company said.
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Martin Gruenberg announced he will step down as chairman of the Federal Deposit Insurance Corporation following the release of an independent review that criticized the agency’s lack of response to employee claims of sexual harassment and discrimination.
Activision Blizzard will pay $35 million to resolve Securities and Exchange Commission charges it violated federal securities laws by failing to adequately disclose how its ineffective response to workplace complaints was harming its ability to hire and retain skilled employees.
The Securities and Exchange Commission found McDonald’s violated federal securities law when it failed to fully disclose material factors regarding the firing of former Chief Executive Stephen Easterbrook in 2019.
Julie Ampadu, chair of the U.K.’s Association of Professional Compliance Consultants, spoke to Compliance Week about why culture is the biggest issue facing financial services firms.
It’s been a trying time for staff at firms with redundancies, affecting morale as layoffs mount amid an effort to silence dissent in the ranks for those departing.
Codes of ethics and conduct are becoming ubiquitous, yet instilling high standards of corporate integrity still seems an elusive goal. Why is corporate culture such a challenge?
