CSX Appoints Steve Angel as New CEO Amid Activist Pressure

Jacksonville, Florida — CSX Transportation appointed Steve Angel as its new CEO on Monday, replacing Joe Hinrichs amid growing pressure from activist investors and industry consolidation.

Angel steps into the role with over 40 years of experience in the transportation sector, including 22 years at General Electric, where he worked on locomotive and rail operations. Hinrichs will assist in the transition, helping with board management during this change.

CSX’s shares gained about 3% in premarket trading following the announcement, reflecting investor optimism about the new leadership.

This change comes after Ansora Holdings, an activist investment firm, pushed CSX to explore merger options. Toms Capital Investment Management reached out to CSX’s board in August after purchasing a stake, signaling their interest in the company’s future direction.

Recently, the U.S. railroad sector has been buzzing with news of a surprise $85 billion acquisition deal involving major players, which has fueled speculation that CSX could follow suit. With the Trump administration easing antitrust regulations, further mergers in the industry may be more feasible.

CSX indicated it is exploring all avenues to enhance shareholder value and will consider all options to boost its stock price.