Eastern Railroad Discussion > CSX names new Chief HR Officer

Simply noting here, for the record.  Excerpt for those not wanting to go to the link --

"Riz Chand Named Chief Human Resources Officer   
Chand comes to CSX from AEA Investors, a mid-market private equity firm, where he served as Chief Talent Officer and Operating Partner and was responsible for leading talent and organization development, fostering strong cultures, and the advancement of leadership capabilities across their operating companies to drive business performance. His background includes senior human resources leadership roles at BNSF, Energy Future Holdings, Kennametal, Mary Kay Cosmetics, and Aetna International, as well as early-career work with PepsiCo Foods, The Hay Group, and Schlumberger."

CSX Press Release -- CSX Announces Leadership Changes to its Executive Team, 02/03/2026

CSX is at least the tenth company this new executive will have worked for.  Job stability used to be an asset on resumes.
The wordings of those press releases show exceptional imagination and provide great entertainment.

Edit:  Upon enjoying rereading the release, I am excited to see a word I don't believe I've seen before in such pieces:  "talent."
Conversely, it is with great disappointment that I noted the absence of "streamline."  This simply cannot be permitted.



Edited 1 time(s). Last edit at 02/05/26 00:28 by Seventyfive.

This is a pretty good list of places to work.

My guess is he has good experience in shaking up established management ranks, bringing in New ideas, challenging management to BE BETTER.

Posted from Android

Chief HR Officer = How to fire personnel without getting sued. 

Bob Phelps
Micanopy, FL

Lackawanna484 Wrote:
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> This is a pretty good list of places to work.
>
> My guess is he has good experience in shaking up
> established management ranks, bringing in New
> ideas, challenging management to BE BETTER.
>
> Posted from Android

You optimism is refreshing!  Sadly, I don't share it.  "Challenging management to BE BETTER" is more like Challenging management to DO AS I SAY".  CEO Angel was put at the helm of CSXT by Ancora.  Simple as that.   Here is his compensation as reported in various media outlet - this one is from the AP:

"Angel will earn a $1.5 million salary, but he will also be eligible for a performance stock grant targeted at $13.5 million next year if CSX hits certain performance goals. He will also receive a separate $10 million stock grant that will vest after three years based on performance. Angel will also be eligible to collect retirement from the railroad after three years. CSX also outlined a separate agreement that would pay Angel triple his salary and target bonus in the event of another railroad taking control of CSX."

Read that last sentence again and let it sink in.  Other sources has clarified that "another railroad tacking control" does not necessarily mean CSXT going whole to another carrier - company could be piecemeal to several carriers.  So, in short, if he hits all targets, he makes $15 million a year, plus an additional $10 million in stock.  Now triple that if he gets them out of the railroad business.  The man is 70 years old, so you don't expect he's looking for a long term, 15-20 year gig.  Plus he's is HEAVILY incentivized to maximize short term returns and liquidate the business - like he has done at companies throughout his career.  



Edited 2 time(s). Last edit at 02/04/26 05:25 by scraphauler.

Or knows what to say at interviews... I wonder how much this person makes in salary before perks?

Victor Baird

Lackawanna484 Wrote:
-------------------------------------------------------
> This is a pretty good list of places to work.
>
> My guess is he has good experience in shaking up
> established management ranks, bringing in New
> ideas, challenging management to BE BETTER.
>
> Posted from Android

scraphauler Wrote:
-------------------------------------------------------
>
> You optimism is refreshing!  Sadly, I don't share
> it.......

Nor do I. Not one iota.
>
> "Angel will earn a $1.5 million salary, but he
> will also be eligible for a performance stock
> grant targeted at $13.5 million next year if CSX
> hits certain performance goals. He will also
> receive a separate $10 million stock grant that
> will vest after three years based on performance.
> Angel will also be eligible to collect retirement
> from the railroad after three years. CSX also
> outlined a separate agreement that would pay Angel
> triple his salary and target bonus in the event of
> another railroad taking control of CSX."
>
> Read that last sentence again and let it sink
> in.  Other sources has clarified that "another
> railroad tacking control" does not necessarily
> mean CSXT going whole to another carrier - company
> could be piecemeal to several carriers.  So, in
> short, if he hits all targets, he makes $15
> million a year, plus an additional $10 million in
> stock.  Now triple that if he gets them out of
> the railroad business.  The man is 70 years old,
> so you don't expect he's looking for a long term,
> 15-20 year gig.  Plus he's is HEAVILY
> incentivized to maximize short term returns and
> liquidate the business - like he has done at
> companies throughout his career.  

Absolutely shameful money grubbing. 

And as a very small CSX shareholder, I have the right to say it out loud. The stock is up about 4% in the last 30 days or so, so ostensibly I should be happy. And I am, to a degree. Like anyone, I'm in it to make a few bucks if I can. But I can't see that the fundamentals of the business have changed that much to support that, so something else is. Could it be that the market and people who know more than you or I do (not insiders acting improperly, just better informed folks) are trading on that information and all of the background of Mr. Angel and the values, orientation and experience set that he brings to the job? Seems possible, if not likely, to me.

By conventional wisdom, I'm supposed to be happy. But I'm not - at all. First, because I absolutely despise executive money grubbing like this - in any business. Second, because I hate short-term-focused management and the damage it does - in any business, but especially railroading. 

Third, because I loathe Ancora and all they stand for - and they are behind Mr. Angel full bore. And lastly, because the values, orientation and experience set that Mr. Angel brings to the job says nothing about solid forward progress in the fundamentals of running a good railroad both for now and the future - which is what I really care about.

I thought Joe Hinrichs did a good job, and given time, could do even more. All of the fundamentals were moving in the right direction for solid mid- to long-term performance. As it should be, period. But the money grubbers at Ancora thought otherwise, and under the pressure of the potential NS - UP merger, convinced the board not to continue building on fundamentals for the long term, but to orient toward selling off the property. In whole (unlikely until Berkshire changes its mind, if it does) or in parts (in my opinion, quite possible). I hate it all, start to finish, top to bottom.

I hope I'm wrong. I want to be wrong. But the tea leaves as I read them suggest that I won't be. It almost makes me sick to my stomach.

MC

The entire management outline is pathetic. Nothing about customer service or employee engagement.

How many phone calls to Berkshire Hathaway does Angel make each week? Need to make that huge payoff.



Edited 1 time(s). Last edit at 02/04/26 08:41 by CP8888.

ironmtn Wrote:

> I hope I'm wrong. I want to be wrong. But the tea
> leaves as I read them suggest that I won't be. It
> almost makes me sick to my stomach.
>
> MC

Could not agree more!  You and I are reading from the same tea kettle and coming to the same conclusion.  I've been in the railroad industry in one shape or form since 1992. So in 34th year now, but only half covered under railroad retirement.  I'm in my 50s and only have 199 months on my Form BA-6, so I need to stay in this stupid biz for the foreseeable future.   So I have more than a passing interest in how all this shakes out, and it is worrisome.  Outfit I work for right now is fantastic - best company I have worked for (not just saying that, I mean it).  We have solid financial backing and by all indications are committed to long term growth, so my HOPE is that whatever ends up playing out in Class1 world, our collection of Class 3s can snag some of the off-casts and continue to grow and evolve.   

 

CSX has a history of making very generous executive comp arrangements.  Mr Harrison set a very high bar with the salary, the buyout of His CP contract, the stock options, the insurance package, the relocation, etc.  John Snow did well, too.

CP8888 Wrote:
-------------------------------------------------------
> ..... Nothing > about customer service or employee engagement.

Yes, and those were hallmarks of CSX's previous CEO who was ousted by the board when he said he was not interested in a merger with another road..  Angel has overseen mergers in the past and his new hire has qualities that would be useful in integrating the cultures of two merged companies.

Warren Buffet retired on Jan. 1st.  He also was adamantly opposed to a merger.  Could it be that his successor, Greg Abel, is more kindly disposed? That might explain CSX's sudden rise in stock price.

Anyway, best of luck to you Scrap......

One of the companies he work for "BNSF" says it all.

Someone to take a "fresh look" at the company and industry.
After filling high wage management positions with friends and family the questions will be, "why do you need all these craft people,
can't  a train drive itself, can't we outsource more work, etc.

Englewood Wrote:
-------------------------------------------------------
> Someone to take a "fresh look" at the company and
> industry.
> After filling high wage management positions with
> friends and family the questions will be, "why do
> you need all these craft people,
> can't  a train drive itself, can't we outsource
> more work, etc.

Management ranks can become bloated pretty quickly. And an insider may not have the strength to cut all the dead wood. This guy's HR resume suggests he can wield the ax.

Hire him, get the job done, pay him, and move on

Posted from Android