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I interviewed Joe Hinrichs aboard his namesake car on the CSX business fleet train in Baltimore on Sept. 26, his third anniversary as CEO.

The intrigue: Hinrichs lost the job two days later.

CSX appointed Steve Angel — an M&A vet with no railroad experience — as CEO. The company declined to make him available for an interview.

During our conversation, I asked Hinrichs several times about rail deals. 

Between spoonfuls of vanilla soft serve and crushed Butterfingers, he mostly talked instead about the benefits of increased railroad partnership, exhibiting the resistance to M&A he was known for.

This interview has been lightly edited for length and clarity.

Axios Pro: You've been in D.C. for some meetings recently. Is there anything you can share about the conversations you've had, either about Union Pacific or what it means for your prospects here at CSX?

Hinrichs: "What I would focus on is just the opportunity that's being unlocked by all the conversations happening between the Class I railroads to solve problems and serve customers better.

If you think about the new announcements we made with BNSF recently to CN, or even go back in time, with CPKC. There's a tremendous amount of conversation going on right now about, 'How do we make the changes more efficient?' 'How do we serve customers better?'

That's the exciting opportunity the industry has: to work together better — I've been saying this for three years — to better serve customers, so we can grow. Because if the goal is to grow the railroad, we have to serve customers better, and we have to work collectively to make that happen."

When you meet with stakeholders, what's your message to them about this deal, CSX and railroad consolidation in general?

"I'm always focused on what we can do at CSX to help make the whole railroad industry pie grow by serving customers better. And that's the conversations we've had and what we'll stay focused on." 

If Union Pacific-Norfolk Southern becomes a transcontinental railroad, how does that change the game for CSX?

"No matter what happens, we collectively are going to compete. 

I can't predict what the Surface Transportation Board is going to do, but our focus is on working with other rail partners to serve customers better and grow."

Do you think there's anything stopping this deal, with President Trump and the SMART-TD union on board?

"I will say it's early in the process. It's a long process. There's going to be a lot of things we'll have to play out. We haven't even seen the application yet. So let's wait and see what it all looks like."

Exclusive: Joe Hinrichs' final interview as CSX CEO

Hinrichs discussed the benefits of increased railroad partnership, exhibiting the resistance to M&A he was known for.

Man in suit speaks at podium with sign reading "HOWARD STREET TUNNEL Celebration" in front of stacked Maersk shipping containers inside a covered train tunnel with an American flag nearby.

CSX's then-CEO Joe Hinrichs speaks at a news conference celebrating the reopening of the Howard Street Tunnel under Baltimore on Sept. 26. Photo: Colin Campbell/Axios

I interviewed Joe Hinrichs aboard his namesake car on the CSX business fleet train in Baltimore on Sept. 26, his third anniversary as CEO.The intrigue: Hinrichs <a class="gtmContentClick" data-vars-link-text="lost the job" data-vars-click-url="https://www.axios.com/pro/supply-chain-deals/2025/09/29/csx-ceo-joe-hinrichs" data-vars-content-id="a4c4051b-2670-480d-9f43-0a3c0f8eca07" data-vars-headline="Exclusive: Joe Hinrichs&#x27; final interview as CSX CEO" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/supply-chain-deals/2025/09/29/csx-ceo-joe-hinrichs" target="_self">lost the job</a> two days later.

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Exclusive: Joe Hinrichs' final interview as CSX CEO

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