CSX said its board appointed Stephen Angel as President and Chief Executive Officer and a board member, effective immediately, on September September 28, 2025. He succeeds Joseph R. Hinrichs, who separated from the company on September 27, 2025.

1. 01

   CSX said its board appointed Stephen Angel as President and Chief Executive Officer and a board member, effective immediately, on September September 28, 2025. He succeeds Joseph R. Hinrichs, who separated from the company on September 27, 2025.

2. 02

   The company said Angel has more than 45 years of experience leading large public companies. It said he served as Linde CEO from 2018 to 2022 and as Chairman from 2022, and that he plans to retire from the Linde board on January 31, 2026.

3. 03

   CSX said that under his employment letter dated September 26, 2025, Angel's initial annual base salary is $1,500,000, his target annual bonus is 175% of base salary, and the grant-date target value of his sign-on equity award is $10,000,000.

4. 04

   The company said Angel will receive a lump sum equal to 2 times his base salary and target bonus if his employment is terminated without cause or he resigns for good reason before he becomes retirement eligible, and 3 times in connection with a change of control. His non-competition and non-solicitation restrictions apply for 18 months after his employment ends.

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