New Delhi, Sept. 29 -- CSX Corp. named Steve Angel its new chief executive officer (CEO) on Monday after the abrupt departure of the railroad company's former CEO, Joe Hinrichs.

However, the company did not specify the reason behind Hinrichs' sudden exit. According to a company statement, Angel, the former head of Linde Plc and Praxair Inc., took over as the CEO and joined the board effective September 28.

The leadership overhaul comes as the company faces significant pressure from an activist investor and rising competitive challenges.

The merger of its rivals, Norfolk Southern Corp. and Union Pacific Corp., threatens to create the first transcontinental railroad in the US. In response to this shifting landscape, Bloomberg News report...