CSX replaces CEO amid investor pressure
CSX Corporation announced on Sept. 29, 2025 that Joe Hinrichs has resigned and veteran executive Steve Angel will become CEO, a leadership change driven by investor Ancora Holdings’ criticism of deteriorating operating and shareholder performance. The move comes as CSX faces heightened competition and consolidation pressure after Union Pacific’s $85 billion bid for Norfolk Southern, and follows completion this month of major repair and tunnel projects that had disrupted service.
Corporate News
Transportation/Infrastructure
🔍 Key Facts
- CSX replaced CEO Joe Hinrichs; Steve Angel (70) named CEO effective Sunday, Sept. 28–29, 2025.
- Investor Ancora Holdings publicly urged CSX to pursue a merger or replace Hinrichs, citing poor operating and shareholder returns.
- CSX cited recent completion of Hurricane Helene repairs and a major Baltimore tunnel renovation that had disrupted operations; Union Pacific’s $85 billion deal for Norfolk Southern is pressuring eastern U.S. rail competition.