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Yesterday, CSX Corp. announced it appointed Oscar Munoz executive vice president and chief operating officer and Fredrik Eliasson, EVP and chief financial officer to succeed Munoz.

The Class I’s CFO since 2003, Munoz succeeds David Brown, who became EVP/COO in December 2009 and “is no longer with the company,” CSX officials said in a prepared statement.

“The company's decision to make this change is unrelated to CSX's financial condition, business performance or outlook, all of which are strong,” they said.

Munoz had been responsible for all financial, strategic planning, information technology, procurement and real estate activities. Prior to joining CSX, he held various senior leadership roles at PepsiCo, Coca-Cola and AT&T.

A 16-year CSX executive veteran, Eliasson most recently was VP of sales and marketing for the chemicals and fertilizer business unit, and previously headed the emerging markets business. He previously served as VP of financial planning and analysis.