Investor pressure and underperformance have led to a leadership shakeup at CSX railroad, with CEO Joe Hinrichs stepping down less than two months after calls for a merger or his removal. Steve Angel, a veteran executive with experience in industrial sectors, has been appointed as the new CEO. Proponents believe Angel’s background in mergers and acquisitions could help CSX navigate growing consolidation in the rail industry. Others caution that recent operational disruptions, not leadership alone, may have driven the company’s struggles. The change comes as competitors prepare for a major Union Pacific–Norfolk Southern merger.
See "CSX railroad replaces CEO after investor pressure and poor performance as Union Pacific merger looms", Josh Funk, ABC News, September 29, 2025