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Biden Administration Cautions Norfolk Southern on Safety Amid Potential Management Overhaul by Activist Investors.

The Biden administration has warned Norfolk Southern, the company responsible for last year’s train wreck in East Palestine, Ohio, against “backsliding” on safety while facing a potential management shakeup. Activist investors, led by Ancora Holdings Group, have said they want to replace eight of Norfolk Southern’s directors and remove CEO Alan Shaw and other managers. If they win, they would lead the company by a team of railroad executives with experience in cost-cutting and lean operations. The Federal Railroad Administration has stated that Norfolk Southern has improved its safety record since the crash, in part by hiring staff.

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