CSX CEO Abruptly Departs Amid Rail Merger Frenzy – What’s Next?
CSX named Steve Angel as its new President and CEO, effective Sept. 28, replacing Joe Hinrichs after investor pressure for leadership change and potential rail consolidation. The move follows hedge fund Ancora Holdings’ public criticism of CSX’s performance and calls for a merger. Angel previously led Praxair and Linde. The announcement comes as industry rivals Union Pacific and Norfolk Southern pursue an $85 billion merger.