NEWS - Ports & Transportation

By Lou Phelps

Jan 23, 2012 – CSX (NYSE: CSX) announced major changes in the leadership of the railroad and shipping company today, including naming Oscar Munoz as executive vice president and chief operating officer, replacing David A. Brown, no longer with the company.

They also named a new CFO, Frederik J. Eliasson, who will also serves as an executive vice president of the company. Munoz was previously the CFO.

Before joining CSX, Munoz held senior leadership positions at PepsiCo, Coca-Cola and AT&T.   Eliasson has been with the company for 16-years. He was previously vice president of sales and marketing for CSX’s chemicals and fertilizer business/

CSX Corp. reported net income of $457 million for the fourth quarter of 2011 today, up six percent increase over 4^th Qtr. 2010.

“CSX once again delivered record earnings per share while investing in resources to support high customer service levels and growth in the near- and long-term,” according to Michael J. Ward, chairman, president and CEO,  in a news release today.  “Our performance in 2011 has set a strong foundation for growth, and CSX remains committed to achieving a 65 percent operating ratio by no later than 2015.”