The embattled railroad announced a “new strategy” for cash awards to top leaders after investigative report and calls for action by Congress members.
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.
"This is a great credit to you and your investigation that we know about this now," Rep. Seth Moulton said in March, while criticizing the railroad for awarding cash incentives."We're going to be zeroing in on this much more closely." "Instead of paying massive bonuses to railway CEOs, I think we should be asking some tough questions about why we lag behind the rest of the world when it comes to safety," he said.
That changed this week when the same spokesperson, Katelyn L. Byrd, told Scripps News in a statement that the company had recently disclosed to the Securities and Exchange Commission a change in that incentive plan, writing that"the compensation of our entire management team will now be based in part on performance on related safety metrics." Byrd also wrote,"We will continue working to get better.
"The disappearance of operating ratio from the bonus criteria for Norfolk Southern executives is a major accomplishment," said the former director of research for the Federal Railroad Administration, Steven Ditmeyer.
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