The Resurgence of the American Railroad System
TypeGlobal Business Luncheon
WhenOct 5, 2010 @ 12:00 PM
WhereThe River Club
About the Speaker
Michael J. Ward was named chairman and chief executive officer of CSX Corporation, one of the nation’s premier transportation and logistics companies, in January 2003. Over his 32-year career, Mr. Ward has headed CSX Transportation’s operations, coal sales and marketing, and finance departments. Under Mr. Ward’s leadership, the company achieved its safest year in 2009 and has consistently excelled in customer service. He was Railway Age magazine’s Railroader of the Year for 2008.
Mr. Ward and his senior management team are focused on achieving industry leadership in the company’s operating, financial, and safety performance. CSX posted a record operating ratio of 74.7 percent in 2009 despite the significant economic challenges. The company’s commitment to improving service and preparing its network for long term freight demand is demonstrated by its planned 2010 capital investment of $1.7 billion, slightly increased over 2009.
According to Mr. Ward, long-term demand for transportation services in the U.S. will continue to create growth opportunities for the freight rail industry and enable CSX and the rail industry to provide continued value to the American economy. “In my career with CSX, I have never felt more confident that we have the right people and the right tools in place to manage through this difficult economic environment,” he said. “We have established a firm foundation with committed employees and disciplined operations that will enable us to capitalize on the positive long-term outlook for freight rail services.”
A native of Baltimore, MD, Mr. Ward earned a bachelor’s degree from the University of Maryland in 1972, and received a master’s degree in business administration from the Harvard Business School in 1976. Mr. Ward serves on the boards of the Association of American Railroads, Ashland Inc., City Year, United Way of Northeast Florida, HSC Foundation and Hubbard House. His other business affiliations include The Florida Council of 100, The Business Roundtable, and The Kentucky Coal Council.
CSX Corporation, based in Jacksonville, FL, owns one of the nation’s leading transportation companies, providing rail, intermodal, and rail-to-truck transload services that connect 70 ocean, river, and lake ports, as well as 230 short line and regional railroads. Its principal operating company, CSX Transportation, Inc., which has approximately 30,000 employees, operates the largest railroad in the eastern United States with a 21,000-mile rail network linking commercial markets in 23 states, the District of Columbia, and two Canadian provinces.Return to Calendar