Management ChangeMay 14, 2026, 09:36 AM
CSX Authorizes $5B Share Buyback; Chief Digital & Technology Officer Departs
AI Summary
CSX Corporation authorized a new $5 billion share repurchase program, adding to the approximately $989 million remaining under the existing program. The company also announced the immediate separation from employment of Stephen Fortune, Executive Vice President and Chief Digital & Technology Officer, with Steve Watkins assuming his responsibilities. Additionally, shareholders approved the election of twelve directors, ratified Ernst & Young LLP as the independent auditor, and approved executive compensation on an advisory basis at the Annual Meeting.
Key Highlights
- CSX Board authorized a new $5 billion share repurchase program.
- Total share repurchase authority now approximately $5.989 billion.
- Stephen Fortune, EVP and Chief Digital & Technology Officer, separated from employment immediately.
- Steve Watkins, VP of Product Management for Rail Operations, will assume Mr. Fortune's responsibilities.
- Shareholders elected twelve directors to the Board at the Annual Meeting.
- Shareholders ratified Ernst & Young LLP as the independent auditor for 2026.
- Shareholders approved executive compensation on an advisory basis.