CSX Corporation

Steve Angel became President and CEO in September 2025, bringing a well-regarded capital allocation and integration track record from Praxair and Linde. Early actions focused on productivity, cost control and leadership realignment, and service metrics improved into Q4 2025. He inherits a solid railroad and an active regulatory backdrop.

While Angel’s pedigree is strong, his rail tenure is young, so we apply a conservative, watch-and-verify stance on execution and strategy under his leadership.