Norfolk Southern overhauls exec payouts after Scripps News Probe
The embattled railroad begins a “new strategy” for cash awards to top leaders after investigative reports led to calls for action by Congress members.
I was a co-reporter, co-writer and producer of this investigation.
April 6, 2023
After a series of exclusive Scripps News investigative reports about cash awards for top executives at Norfolk Southern, the railroad that owns the train that derailed in East Palestine, Ohio has announced a total overhaul of its cash incentives program.
The Scripps News stories exposed how executives received millions of dollars in cash after the company made its trains longer and took other actions critics say made their trains more dangerous.
In its "new strategy" for executive compensation, the company now has measures for on-time delivery, its reportable injury rate, and reportable accident rate. The company entirely dropped a controversial financial target that had been the biggest driver of its cash awards, and the focus of Scripps News' previous reports.
The company told Scripps News in a written statement this week it had recently disclosed changes to their incentive plan to the Securities and Exchange Commission (SEC), writing "the compensation of our entire management team will now be based in part on performance on related safety metrics."
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