CSX appoints Joseph Hinrichs as CEO effective Sept 26; Foote retires as planned

CSX CORP

Joseph R. Hinrichs appointed President and CEO effective September 26, 2022, succeeding James M. Foote.
Foote retires as CEO and from the Board on Sept 26; will serve as advisor through March 31, 2023.
Hinrichs receives $1.4M base salary, 150% target bonus, $7M sign-on equity (50% PSUs, 50% RSUs), and $10M 2023 LTIP target.
Board also adopted an Executive Severance Plan for officers other than CEO providing cash severance equal to base salary plus target bonus paid over 12 months.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

James M. Foote

President and Chief Executive Officer

CSX · CSX CORP

Effective: 2022-09-26
Successor: Joseph R. Hinrichs
Filed: September 15, 2022, 7:59 PM ET

James M. Foote, who announced that he plans to retire as President and Chief Executive Officer, as well as from the Board of Directors, effective September 26, 2022.

Appointed

Joseph R. Hinrichs

President and Chief Executive Officer

CSX · CSX CORP

Effective: 2022-09-26
Filed: September 15, 2022, 7:59 PM ET

announced that, as part of a planned succession process, its Board of Directors appointed Joseph R. Hinrichs as the Company’s new President and Chief Executive Officer, and as a member of the Board of Directors, effective September 26, 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

James M. Foote retired as President and Chief Executive Officer at CSX CORP.

Action: retired
Role: President and Chief Executive Officer

Exact text from the filing

James M. Foote, who announced that he plans to retire as President and Chief Executive Officer, as well as from the Board of Directors, effective September 26, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Joseph R. Hinrichs was appointed as President and Chief Executive Officer at CSX CORP.

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

announced that, as part of a planned succession process, its Board of Directors appointed Joseph R. Hinrichs as the Company’s new President and Chief Executive Officer, and as a member of the Board of Directors, effective September 26, 2022.

View on SEC.gov

CSX CORP filing history →

Source: SEC EDGAR

accession 0000950103-22-015759

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