Joseph R. Hinrichs is the CEO of CSX Corporation, a significant player in the American railroad industry and a key part of its logistics network. He took over as CEO in September 2022 after a planned transition from his predecessor. Before joining CSX, Joseph had a solid background in the automotive sector, specifically at Ford Motor Company, where he held various leadership roles for over 30 years. This experience gave him insight into both manufacturing and logistics, which is crucial for running a railroad business. At CSX, Joseph earned $3.8 million in total compensation in 2023, which included a $1.4 million salary and a significant bonus based on the company’s performance, safety, and efficiency metrics. He's focused on aligning the company’s goals with performance, driving growth while maintaining safety in operations. His work ethic is evident as he has restricted stock units that vest in 2025, aligning his interests with the company’s long-term success. Outside of work, he has agreements that protect his interests if there's a change in his employment, showing he thinks about the long term. Joseph also has no family ties with the board, ensuring a clean separation between personal and professional roles. He’s a Michigan grad with a degree in Business Administration, which fits neatly into his strategic approach to leadership and management in the transportation sector.

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Joseph R. Hinrichs

CEO of CSX

Education

Bachelor's degree in Business Administration from the University of Michigan

Field of Expertise

Business & Management

Sector of Economy

Industrials

Born

March 14, 1967 - 58 years ago

CEO of CSX for

2 years 8 months (Sep 2022 - Present)

Previous Experience

President of Ford Motor Company’s global automotive business

Rivals

Competitors/colleagues of Joseph R. Hinrichs

Ed Bastian

CEO of Delta Air Lines

2023 Compensation

Stock

$19.03M

Salary

$950.00K

Bonus

$9.60M

Other

$371.18K

Total Holdings

$31.31M

Alan H. Shaw

CEO of Norfolk Southern

2022 Compensation

Stock

$2.16M

Salary

$900.00K

Bonus

$5.54M

Other

$200.85K

Total Holdings

$8.65M

Robert C. Lyons

CEO of GATX

2023 Compensation

Stock

$0.00

Salary

$858.33K

Bonus

$0.00

Other

$919.02K

Total Holdings

$9.74M

Lance M. Fritz

CEO of Union Pacific

2023 Compensation

Stock

$4.94M

Salary

$1.33M

Bonus

$960.00K

Other

$165.96K

Total Holdings

$192.70M

Charles W. Moorman

CEO of Norfolk Southern

2022 Compensation

Stock

$0.00

Salary

$900.00K

Bonus

$901.28K

Other

$200.85K

Total Holdings

$88.66M

J. Scott Kirby

CEO of United Airlines Holdings

2023 Compensation

Stock

$10.71M

Salary

$1.10M

Bonus

$0.00

Other

$155.74K

Total Holdings

$53.84M

Holdings

See how much did Joseph R. Hinrichs make over time.

As CEO of CSX, Joseph R. Hinrichs has not heavily invested directly in CSX stock yet. In the last reports, he had restricted stock units set to vest in 2025, aligning his financial interests with the company's future performance. His holdings have not seen significant fluctuations recently since he has not sold or purchased a large number of shares, indicating a careful approach in this regard. Joseph aims to be committed to his role, backed by incentives that will pay off as the firm continues to grow sustainably over the next few years. His wealth from stock is currently limited as he is setting foundations for his longer-term commitment to CSX. These restricted units represent not only a potential future payout but also a reflection of his confidence in the company's trajectory. So while he may not hold much stock now, his future wealth from these units could be substantial if CSX performs well.

Total Stock Sold

$14.63M

996,558 F shares

What if they kept their stock?

If Joseph R. Hinrichs didn't sell their stock, today they would have:
Extra F996,558 shares worth $6.55M.
This is -55.24% and $8.08M less than what they got when they sold the stock.

Insider Trading

See recent insider trades of Joseph R. Hinrichs.

CSX

74,918 shares

CSX

Feb 14, 2025

Received

CSX

74,998 shares

CSX

Jan 26, 2025

Received

CSX

62,092 shares

CSX

Feb 15, 2024

Received

CSX

$21.40K

CSX at $27.72/share

Dec 31, 2023

Received

CSX

$2.00M

CSX at $31.67/share

Feb 15, 2023

Received

CSX

127,598 shares

CSX

Sep 26, 2022

Received

CSX

112,252 shares

CSX

Sep 26, 2022

Received

107,329 shares

Mar 2, 2018

Received

$453.60K

F at $11.34/share

Sep 5, 2017

Sale

$555.48K

F at $11.11/share

May 5, 2017

Sale

Compensation History

See how much did Joseph R. Hinrichs make over time.

In 2023, Joseph R. Hinrichs, the CEO of CSX Corporation, received a total compensation of $3.8 million. This package included a base salary of $1.4 million and a substantial performance-based bonus of $2.4 million. The bonus was designed to reward financial success along with improvements in safety and fuel efficiency, critical metrics in the railroad industry. This reflects CSX's commitment to aligning executive pay with company performance and long-term shareholder value. In 2022, his compensation was lower at about $1.3 million, which included a prorated salary and bonus since he joined midway through the year. No stock vested during these years, but he has been granted restricted stock units that only become his in the future. This approach shows that the company is cautious about incentives to ensure long-term commitment rather than immediate rewards. Joseph's compensation plan is structured to motivate him to achieve both short- and long-term goals for CSX, while also reflecting the company's strategy and performance metrics.

Year

2023

Total Compensation

$3.82M

Salary

$1.40M

Board Justification

CSX's compensation philosophy for the CEO in 2023 was to align executive pay with the Company’s financial performance and the creation of sustainable long-term shareholder value. The compensation program is structured to provide a competitive level of compensation necessary to attract, engage, and reward talented and experienced executives and to motivate them to achieve short and long-term strategic goals.

Bonus

$2.42M

Board Justification

The bonus structure for Joseph R. Hinrichs in 2023 was based on the Management Incentive Compensation Plan (MICP), which included financial performance measures, operational, customer service, and ESG-related measures of safety and fuel efficiency. The financial measures accounted for 70% of the MICP’s overall weighting. The resulted Company payout was 115% of the Target Incentive Opportunity, leading to a bonus payout of $2,415,000.

Other

$0.00

Board Justification

The proxy statement does not specify any other compensation for Joseph R. Hinrichs in 2023.

Restricted Stock

$0.00(0 N/A)

Board Justification

There were no vested stocks for Joseph R. Hinrichs in 2023 as per the provided proxy statement.

Performance Metrics

The performance metrics for the CEO's compensation in 2023 included financial performance measures, operational, customer service, and ESG-related measures of safety and fuel efficiency. These metrics were critical drivers of CSX’s business success and accounted for 70% of the MICP’s overall weighting.

Other CSX CEOs

Here are other CEOs of CSX

James M. Foote

Ex-CEO of CSX

December 2017 - September 2022