As the U.S. economy continues to recover, CSX Corporation remains sharply focused on safety, service and productivity, the things that have made the company successful through a variety of economic conditions, Michael Ward, CSX chairman, president and chief executive officer, told investors at the company's annual shareholder meeting.
The company performed
very well in the recent recession while positioning itself as a "stronger
and more capable" company, Ward said. "The opportunities to create
value for customers, investors, employees and communities are impressive."
Ward said it is very
important for CSX to continue to "do the right things" to prepare its
network for the future transportation needs of the nation. Over the past three
years, the company has invested approximately $5 billion in its network, and is
adding another $1.7 billion in investment this year. CSX is also joining six
states and the District of Columbia in developing the National Gateway, a major
infrastructure project to enhance the use of fuel efficient and
environmentally-friendly rail service while creating thousands of jobs in
In its official business,
and based on preliminary results, shareholders re-elected all 11 members of the
CSX Board of Directors, ratified the appointment of Ernst & Young as the
company’s independent registered public accountant and approved the 2010 CSX
Stock and Incentive Award Plan.