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CSX Announces Senior Executive Changes

JACKSONVILLE, Fla. – July 9, 2018 – CSX Corporation (NASDAQ: CSX) today announced that Mark Wallace has been appointed executive vice-president sales and marketing and Diana Sorfleet has been appointed executive vice-president and chief administrative officer.

Wallace joined CSX in March 2017 as executive vice-president corporate affairs and chief of staff and was named executive vice-president and chief administrative officer in January 2018.

“Having worked closely with Mark at both CSX and Canadian National Railway Company (CN), I know that his diverse background, industry knowledge and deep understanding of scheduled railroading make him the ideal candidate to effectively lead our company’s Sales and Marketing team,” said James M. Foote, president and chief executive officer.  “Mark worked side-by-side with Hunter Harrison for 20 years and has the strategic vision and executive leadership abilities to effectively drive the next phase of growth for CSX and help us achieve our goal of becoming the best railroad in North America. 

“One of my top priorities since assuming the CEO role earlier this year has been working with our board of directors to identify key leaders.  Mark is a perfect example of our executive talent pipeline,” said Foote.

Replacing Wallace as executive vice-president and chief administrative officer will be Diana Sorfleet, currently CSX’s chief human resources officer.  Sorfleet will assume responsibility for information technology, human resources, labor relations, executive compensation and aviation. 

“I am excited that Diana will be joining the executive leadership team.  From my first day on the job at CSX, she has played an invaluable role in helping me and the entire team drive the organization, our culture and our valued CSX employees forward in our transformational journey,” said Foote.

Kevin Boone, who previously reported to Wallace will continue as CSX’s vice-president corporate affairs and chief investor relations officer, and will assume responsibility for the corporate communications function reporting to James Foote.

All three appointments are effective immediately.

About Wallace:

Wallace began his railroad career at CN in January 1995 as an analyst in the Taxation and Treasury function to assist on CN’s very successful initial public offering.  He then worked in Investor Relations for five years before becoming chief of staff to president and chief executive officer Hunter Harrison and then held other senior management roles until leaving the company in March 2010.  Wallace joined Canadian Pacific Railway (CP) in July 2012 as vice-president corporate affairs and chief of staff to help transform CP from an industry laggard to an industry leader.  Wallace left CP in January 2017 to join CSX in March 2017.

About Sorfleet:

Sorfleet joined CSX in June 2011 after many years in human resources with Exelon, most recently as Vice President of Diversity and Development.  Sorfleet is a member of the Conference Board’s Chief Human Resources Officers Council and has participated in several additional professional organizations and served on the boards of several non-profit organizations during her career.  In 2016, she was recognized by Black Enterprise as one of the most influential, highest-ranking executives leading diversity initiatives among the nation’s largest companies.  Sorfleet was also recognized by Diversity MBA in 2012 as a Top 100 under 50 Diverse Executives.

About Boone:

Boone has worked in the finance industry for over 15 years including investment banking at Merrill Lynch in the Mergers and Acquisitions Group and equity research at Morgan Stanley.  Before joining CSX, Boone worked as a senior equity research analyst at Janus Capital where he covered the industrial and transportation sectors.  Prior to receiving his MBA, Boone worked for Ernst & Young as a CPA in the audit practice primarily focused on transaction services including M&A. 

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 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 230 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike.

More information about CSX Corporation and its subsidiaries is available at www.csx.com and on Facebook (http://www.facebook.com/OfficialCSX).


Bryan Tucker, Corporate Communications