Tuesday, February 21, 2017

CSX appoints Eliasson as president; Ward, Gooden to retire in May

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Left to right, Michael Ward, Clarence Gooden and Fredrik Eliasson. Left to right, Michael Ward, Clarence Gooden and Fredrik Eliasson.

CSX has appointed Fredrik J. Eliasson as president, effective Feb. 15, 2017. Michael J. Ward, chairman and CEO of CSX, and Clarence W. Gooden, president, will retire effective May 31, 2017.

Eliasson, who is currently CSX's chief sales and marketing officer, will maintain his current responsibilities in his new position. Gooden will assume the role of vice chairman until his retirement.

CSX says the changes are part of an orderly transition of the company's senior leadership that the board has been considering for more than a year and explains the appointment of Eliasson as president is not intended to preempt or otherwise affect any discussions CSX may continue to have with Hunter Harrison and Mantle Ridge regarding Harrison becoming the CEO at CSX.

"Fredrik has played a vital role in CSX's progress in recent years and in the development of the next phase of its strategic plan and he was a natural choice to help the company continue to advance its CSX of Tomorrow strategy," said Ward. "He has the vision, leadership abilities and deep understanding of our business to help CSX's future leadership achieve its long-term strategic goals."

"On behalf of CSX's Board of Directors, I want to thank Michael and Clarence for their many years of dedicated service and contributions to our Company," said Edward J. Kelly, III, CSX's presiding director. "Michael has helped build CSX into one of the nation's leading transportation and logistics companies, and Clarence has similarly provided valuable leadership across CSX's sales, marketing and operations teams. We wish both the best in their retirements."

Eliasson commented, "This is a dynamic and important time at CSX, and I look forward to continuing to work with the management team to implement the best ideas to drive growth across the organization and deliver a compelling future for our company and our shareholders."

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