CSX Transportation announced on Monday that CEO Joe Hinrichs had departed and was being replaced by Steve Angel. The sudden change came without explanation and just days after Hinrichs celebrated his third anniversary at the helm of CSX. 

The transition comes as CSX is coming under increased pressure to respond to Union Pacific and Norfolk Southern’s proposal to merge. Some investors had called for Hinrichs to forge a merger partnership with either BNSF or CPKC, or resign. However, so far, CSX has opted for collaboration instead of a merger. 

In CSX’s announcement of Angel’s appointment, officials wrote that the new CEO was an expert in guiding companies through “significant transformation.” Angel previously led Linde plc, a chemical company, and General Electric. 

“We are excited to welcome Steve as our new CEO. He is a visionary in creating long-term value and an expert in guiding companies through significant transformation. The Board conducted a very targeted process, and Steve was the clear choice to lead CSX,” said John Zillmer, Chairman of CSX. “The Board is laser-focused on advancing CSX’s strategic priorities and maximizing shareholder value, and we are confident Steve has the right skillset, expertise, and background to help us deliver our next phase of growth.”

While it seems most of UP and NS’s competitors wanted to avoid additional mergers — and are vocal against the UP-NS deal — shifting opinions in Washington D.C. might mean they have little choice. Earlier this month, President Donald Trump was asked what he thought of the proposed merger and said it “sounds good to me.” While the president does not have the ability to approve or deny mergers, the White House appears to be putting its thumb on the scale in support of the merger, most notably with the dismissal of Robert E. Primus at the U.S. Surface Transportation Board. Primus was notable for being the lone vote against the CPKC merger in 2023. 

—Justin Franz