JACKSONVILLE, Fla., Oct. 25, 2017 (GLOBE NEWSWIRE) -- Following today’s announcement of executive changes including naming Jim Foote as chief operating officer, CSX Corporation (Nasdaq:CSX) is postponing its scheduled October 30th Investor Conference to a later date.
“Our team continues to build momentum and the addition of Jim increases my confidence in our ability to serve customers and deliver shareholder value,” said Hunter Harrison, president and chief executive officer. “I am more confident than ever in CSX’s ability to achieve industry leading operating and financial performance and look forward to showcasing our leadership team at a future date.”
CSX also announced the Board has authorized $1.5 billion in share repurchases, which builds on the $1.5 billion program recently completed. “The Board’s action to expand the repurchase program demonstrates our confidence in CSX’s long term future and ability to generate substantial free cash flow,” said Harrison.
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 over 190 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 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike.