CSX Corp. Announces Leadership Transition

Core Viewpoint - CSX Corp. has appointed Steve Angel as the new President and Chief Executive Officer effective September 28, succeeding Joe Hinrichs, with expectations of continued strong operating performance and full-year volume growth [1][3]. Group 1: Leadership Transition - Steve Angel brings over 45 years of experience in leading large public companies and has a proven track record of generating strong shareholder returns [2]. - The Board of Directors expressed confidence in Angel's ability to advance CSX's strategic priorities and maximize shareholder value [3]. - Joe Hinrichs, the former CEO, was acknowledged for his leadership and contributions over the past three years [5]. Group 2: Steve Angel's Background - Angel previously served as CEO of Linde plc and Praxair, where he achieved total shareholder returns of 219% and 257% respectively [3]. - He oversaw the merger of Linde AG and Praxair, resulting in a market capitalization increase of 141%, equating to a $131 billion increase in value [3]. - Angel's career began at General Electric, where he spent over 22 years in various management roles, including those related to locomotive and rail operations [4][8]. Group 3: Company Overview - CSX is a premier transportation company based in Jacksonville, Florida, providing rail and intermodal services across various markets [12]. - The company has played a critical role in the economic expansion and industrial development of the United States for nearly 200 years [12].