CSX Appoints Sean R. Pelkey Executive Vice President and Chief Financial Officer

Rhea-AI Summary

CSX Corp. has appointed Sean R. Pelkey as the new executive vice president and CFO effective immediately. His experience includes serving as vice president and acting CFO, with a strong background in finance and capital management since joining the company in 2005. James M. Foote, CEO, emphasized Sean's critical contributions during CSX's transformation, which has enhanced stakeholder value. CSX continues to provide vital transportation services across various markets in the eastern United States.

Positive

• Sean R. Pelkey's promotion may bring fresh perspectives and continuity in financial leadership.
• Pelkey's extensive experience at CSX enhances management stability during a crucial growth phase.

Negative

• Transitioning to a new CFO could create temporary uncertainty among investors regarding strategic direction.

JACKSONVILLE, Fla., Jan. 24, 2022 (GLOBE NEWSWIRE) -- CSX Corp. (NASDAQ: CSX) today announced the appointment of Sean R. Pelkey as executive vice president and chief financial officer effective immediately.

James M. Foote, president and chief executive officer said: “Sean has played an important role as a member of the CSX leadership team throughout our transformation, which has delivered superior value to our many stakeholders. Sean’s strong financial acumen, deep railroad industry knowledge, and broad experience at CSX will be invaluable as we strive to deliver profitable and sustainable growth.”

Mr. Pelkey, who most recently served as vice president and acting chief financial officer, joined the company in 2005. From 2017 to June 2021, he was vice president of Finance and Treasury. He has over 16 years of experience in finance and capital management, and previously served as assistant vice president, capital markets and investor relations. He holds a master’s degree in business administration from the University of Florida and a bachelor’s degree in sociology from Boston University.

About CSX

CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products. For nearly 200 years, CSX has played a critical role in the nation's economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation's population resides. It also links more than 230 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike.

Contact:
Matthew Korn, CFA, Investor Relations
904-366-4515

Bryan Tucker, Corporate Communications
855-955-6397

FAQ

Who is the new CFO of CSX as of January 2022?

Sean R. Pelkey has been appointed as the new CFO of CSX effective January 24, 2022.

What role did Sean R. Pelkey have prior to his appointment as CFO?

Before becoming CFO, Sean R. Pelkey served as vice president and acting chief financial officer.

What experience does Sean R. Pelkey bring to his role at CSX?

Pelkey has over 16 years of experience in finance and capital management and has been with CSX since 2005.

What does CSX do?

CSX is a premier transportation company providing rail, intermodal, and rail-to-truck transload services across various markets.

How has CSX performed under its leadership transformation?

CSX has delivered superior value to stakeholders during its transformation led by current CEO James M. Foote.