CSX: Foote to retire; Hinrichs named president, CEO

CSX Corp. today announced Joseph Hinrichs will succeed James Foote as president and CEO when Foote retires Sept. 26 as part of a planned succession process.

Foote will continue to work with the company through March 31, 2023, as an adviser to facilitate a seamless leadership transition, CSX officials said in a press release.

Hinrichs has more than 30 years of experience in the global automotive, manufacturing and energy sectors. Most recently, he served as president of Ford Motor Co.'s automotive business. Hinrichs led the company's $160 billion global automotive operations, after having previously served as president of Ford's global operations, president of the Americas and president of Asia Pacific and Africa. He has also held executive roles in global manufacturing, materials planning and logistics.

Hinrichs' appointment follows "a long and deliberate process in which we identified the strongest candidate to lead CSX through its next phase of growth and transformation," said CSX Chairman John Zillmer.

"The board believes that Joe is a seasoned leader with the relevant experience to lead CSX forward with our full support," Zillmer added.

Hinrichs' strength is in "operational excellence," said Foote.

"He enabled Ford to execute world-class manufacturing on a global scale, including prioritizing exceptional customer service,” Foote said. "In addition to leading complex businesses over his 30-year career, he has proven that he understands how to prioritize safety and efficiency in an industry with dynamics that are similar to those we are navigating today in rail."

Hinrichs said his focus as CSX's top executive will be to leverage the Class I's "proven operating model as a leader in the railroad industry, to drive growth through innovation, harness transformative technology and build a one-team workforce through an engaging and inclusive culture."

A longtime railroader, Foote joined CSX in October 2017 as the railroad's executive vice president and chief operating officer. He became the railroad's top executive after the death of CSX President and CEO E. Hunter Harrison in December 2017.