JACKSONVILLE, FL (LOOTPRESS) – CSX Corp. announced Monday that its Board of Directors has appointed Steve Angel as President and Chief Executive Officer, effective September 28.
He also joins the company’s Board of Directors.
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Angel succeeds Joe Hinrichs, who has stepped down as President, CEO, and Board member.
The move comes as competitors Union Pacific and Norfolk Southern push to merge as one railroad.
The company said Angel will work closely with the Board and management team to ensure a smooth transition. CSX also noted that its operating performance remains strong, with expectations for full-year volume growth unchanged.
“We are excited to welcome Steve as our new CEO. He is a visionary in creating long-term value and an expert in guiding companies through significant transformation. The Board conducted a very targeted process, and Steve was the clear choice to lead CSX,” said John Zillmer, Chairman of CSX.
“The Board is laser-focused on advancing CSX’s strategic priorities and maximizing shareholder value, and we are confident Steve has the right skillset, expertise, and background to help us deliver our next phase of growth.”
Angel brings more than four decades of experience leading large public companies, including his time as CEO of Praxair from 2007 to 2018 and Linde plc from 2018 to 2022.
Under his leadership, Linde and Praxair generated shareholder returns of 219% and 257%, respectively, and the combined company’s market capitalization grew by 141%, or $131 billion.
He began his career at General Electric, where he worked for more than 22 years, including directly with locomotive and rail operations.
“I’m truly honored to step into the role of CEO and am grateful for the trust that John and the Board of Directors have placed in me,” Angel said.
“It’s a privilege to join a company with such a proud history and an incredibly dedicated team of over 23,000 employees who are working tirelessly to connect industries, communities, and economies. My top priorities will be to ensure the safety of the railroad and our employees, deliver reliable service to our customers, and increase value for our shareholders. I look forward to working in partnership with the team and the Board as we continue to build on CSX’s strong momentum, advancing key initiatives aimed at driving long-term growth.”
Zillmer also expressed appreciation for Hinrichs’ tenure.
“On behalf of the Board, I also want to sincerely thank Joe for his leadership over the past three years. We appreciate his service and his many contributions to CSX. His dedication to strengthening our operations and investing in our people and culture has laid a strong foundation as we enter this exciting next chapter.”
Hinrichs reflected on his departure, saying, “It has been a privilege to serve as CEO of CSX. I am proud of the progress we have made in improving performance, strengthening customer relationships, and building a culture centered on safety and collaboration. I am grateful to our team for their hard work and commitment – they are among the best and brightest in the business.”
“I leave with pride for all that we have accomplished together and have full confidence that under Steve and the Board’s leadership, the Company will continue to grow stronger, delivering lasting value to all our stakeholders.”
Angel will remain Chairman of Linde until January 2026, when he plans to retire from its Board.
