CSX Corp. announces Angel appointed CEO effective September 28

CSX Corp. today announced that its Board of Directors has named Steve Angel as President and Chief Executive Officer, and a member of the Board, effective September 28. He succeeds Joe Hinrichs, who has departed from the company as President, CEO, and Board member. Angel will work closely with the Board and management team to ensure a seamless transition. CSX’s operating performance remains strong, and the company still expects to deliver full-year volume growth.

Angel is an accomplished executive with over 45 years of experience leading large, public companies and generating strong shareholder returns. He has a long and proven track record of leading high-performing teams, fostering a collaborative culture, and driving operational excellence and growth, while maintaining disciplined capital allocation and attractive returns on capital.

“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.”

Over Angel’s long career as CEO of Linde plc, and its predecessor Praxair, Inc., companies under his leadership have created significant and sustained shareholder value. During Angel’s tenures, Linde and Praxair generated total shareholder returns of 219% and 257%, respectively. Since the combination of Linde AG and Praxair, the company’s market capitalization has grown by 141%, a $131 billion increase in value, outperforming the S5MATR Index and creating the world’s largest industrial gases and engineering company.

Angel was CEO of Praxair from 2007-2018. After its merger with Linde in 2018, he became CEO of the combined company until 2022, when he was named Chair. He plans to retire from Linde’s Board in January 2026. He began his career at General Electric where he held a variety of management positions for over 22 years and worked 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,” said Angel. “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 continued, “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.”

“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,” said Hinrichs. “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.”