Overview

• CSX named Steve Angel president and chief executive effective Sept. 28, and Joe Hinrichs separated from the company and resigned from the board under his contract terms.
• Angel, 70, previously led Linde and Praxair and oversaw the Linde–Praxair integration that created the world’s largest industrial gases company.
• The board said a targeted search identified Angel as the clear choice to advance strategic priorities and maximize shareholder value.
• Angel’s package includes a $1.5 million base salary, $10 million in stock vesting in three years, a 2026 LTIP target of $13.5 million, corporate housing in Jacksonville, reimbursement for certain 2025 travel costs, and up to $200,000 annually for personal use of the corporate aircraft.
• The change follows investor pressure, including calls from Ancora for a leadership shift, and comes as Union Pacific and Norfolk Southern have proposed a merger, with CSX reiterating its expectation for full-year volume growth.