CSX CORP. MOVES HEADQUARTERS TO JACKSONVILLE

CSX CORP. MOVES HEADQUARTERS TO JACKSONVILLE

   CSX Corp. said it has moved its corporate headquarters from Richmond, Va., to Jacksonville, Fla., as part of “a strategic evolution … with a greater focus on our railroad,” said Michael J. Ward, CSX’s chairman, president and chief executive officer.

   “We no longer need a central location for our holding company, and it makes business sense to locate the corporate headquarters in the same city as the major operating unit, CSX Transportation,” Ward said.

   CSX was incorporated as a holding company in 1980 Richmond, which served as a focus for CSX’s interests in rail, shipping, and real estate — and the preferred home base for John W. Snow, CSX’s former president, chairman and CEO.

   In January, when Snow resigned to become Treasury Secretary for the Bush administration, CSX Corp.’s board appointed Ward chairman, president and CEO. Ward had been president of CSX Transportation.

   Since then, the CSX corporate staff in Richmond has been given the options of relocating to Jacksonville, or taking early retirement. CSX will keep approximately 200 employees at rail yards in the area.

   Of CSX Corp.’s 40,000 employees, more than 5,200 work in Jacksonville, which is also the headquarters of CSX Technology and CSX Intermodal.

   CSX Transportation, the railroad division of CSX Corp., has 34,000 employees and extends more than 23,000 route-mile network in 23 states, the District of Columbia, and two Canadian provinces.