After reading this I am not so sure?
http://www.railwayage.com/index.php/management/oscar-munoz-named-csx-president.html?channel=50
trackrat888 After reading this I am not so sure? http://www.railwayage.com/index.php/management/oscar-munoz-named-csx-president.html?channel=50
Michael Ward
Never too old to have a happy childhood!
It seems pretty clear to me.
"with Ward retaining his other duties as chairman and CEO"
An "expensive model collector"
Yes, it is pretty clear.
But, I think the confusion comes from the original poster’s unfamiliarity with corporate structures. There is a Chairman of the Board of Directors, a Chief Executive Officer, a President, a Chief Operating Officer, etc., etc., etc. Often the three highest positions are held by one person. In other arrangements, the responsibilities are split.
And then, too, ownership issues can be confusing. As an example, the Union Pacific Corporation owns the Union Pacific Railroad, and the officers can be the same or different however the highest level of ownership officers dictates.
This thread’s originating poster will undoubtedly learn real quick about corporate structures and who and what own what, and the many who’s that may be in charge and what they are in charge of.
----------------------------------------------------------------------------------------------------------------------------------- K.P.’s absolute “theorem” from early, early childhood that he has seen over and over and over again: Those that CAUSE a problem in the first place will act the most violently if questioned or exposed.
Having worked for small companies most of my life (as in 4-40) people what they do and how they do it on the hill in the Corporate City of OZ is beyond wee little people like me.. It would seem that even the US Armed Forces has simple chain of comand.
To add a litttle bit to K.P.'s concise explanation above:
Back in the day (like a couple decades ago), the formal title of "CEO" was rare - instead, the President of the company held or was responsible for all the executive authority and power of the company. That was actually an unspoken presumption because it was usually expressly stated in the corporate laws of the 'home' state of the company, unless the prticular corporation's documents (charter, by-laws, etc.) explicity limited the President's power in some way (rarely). Vestiges of this are evident in legal forms and documents where the titles and lines were pre-printed - and then actually executed - by the President, even for major transactions where the actual legal power was important, such as sales of land, mergers, reports to shareholders, etc.
- Paul North.
In the depths of railroad basements there are 1000 year leases that are paid to paper railroad companies that have there own boards and incorperations. The D&H leased a line from Albany and Susquhanna for a 1000 years and NYC leased the West Shore from the Pennsy which is now owned on paper from American Underwriters. In Michigan the Michigan Central Exists on Paper. The Lehigh Valley still exists somehwhere on paper in the basement of railroads lawyers offices somewhere in Norfolk VA. Union Pacific is not only a railroad company it also has mineral rights as well as power line right of ways. CSX and CP used to also own hotels and golf courses. I GUESS that the president of CSX only runs the railroad side and the CEO runs all the other buisnesses combined?
Paul_D_North_Jr Back in the day (like a couple decades ago), the formal title of "CEO" was rare -
Back in the day (like a couple decades ago), the formal title of "CEO" was rare -
https://lvgaldieri.wordpress.com/2012/04/06/the-first-ceo/
https://lvgaldieri.wordpress.com/2014/09/02/a-fifth-note-on-the-first-ceo-the-postwar-fad/
Seems to have started circa 1955, and become pretty common - at least among that class of executive, in the largest 200 industrial companies, if not the rest of us - by around 1975. So a little earlier than I thought - but definitely not a well-accepted title until the 1960's.
I wonder how fast it took hold in the railroad industry, by comparison ? Probably a whole lot slower . . .
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