CSX Railroad announced on Monday that it had replaced its CEO less than two months after the investment fund urged it as well Find another railway to integrate with To compete better with the proposal Union Transcontinental Union Pacific Railways or outgoing CEO Joe Henretch.
The outgoing CEO, who came to the railway in 2022, focused long after Fighting the bitter contract. But Ancora Holdings, which helped Stimulating the main changes in the southern NorfolkThe CSX operating performance said greatly under the leadership of Hinrichs. Hinrichs resigned to clarify the way for Steve Angel to become the CEO of Sunday.
Angel, 70, also comes from outside the railway industry although earlier in his career, he supervised the Gee GE location unit, so he has this experience. CSX said he has a 45 -year -old experience in leading large public companies, including recently as CEO of Linde and Praxai.
“We are excited to welcome Steve as the new CEO. He has a vision in creating a long -term value and expert in directing companies through a major transformation,” said John Zelamer, Chairman of the Railways Board of Directors.
CSX has been under pressure from ancora and other investors since Union Pacific announced a $ 85 billion deal to get Norfolk south, a CSX competition in the eastern United States. But both BNSF and CPKC railway said they were not interested in merged at the present time.
Anura said that CSX has achieved disappointing shareholders ’revenues and weak financial performance during Henric’s period. But during the past year, CSX was working on two main construction projects – repairs from Hilin Hurricane and renovating a major Baltimore tunnel – railway malfunction. These two projects have just been completed this month, so CSX performance was expected to improve in the fourth quarter.
Angel promised to make improvements at Jacksonville, Florida, one of the six largest railways in North America.
Angel said in a statement: “My higher priorities will be guaranteeing the safety of the railways and our employees, providing a reliable service to our customers, and increasing the value of our shareholders.”