CSX Corporation Chief Financial Officer Underscores Importance of Flexible Business Strategies in a Dynamic Environment
JACKSONVILLE, Fla., Nov. 9, 2012 /PRNewswire/ -- Fredrik Eliasson, executive vice president and chief financial officer of CSX Corporation (NYSE: CSX), spoke this morning at the 25th CFO Summit in Las Vegas about the increasing importance of being nimble in a volatile global economy. Using CSX as a case study, Eliasson focused on the demands that face financial leaders and the need for CFOs to be even more focused on business strategy and development.
"In today's economy, companies need to prepare for and respond appropriately to change faster than ever," Eliasson said. "Being flexible has helped enable success for CSX in an increasingly interconnected and dynamic business environment."
Eliasson also focused on the need for a balanced capital structure, sharing CSX's approach, which balances capital investment, dividend payouts and share repurchases. "This balance strengthens the nation's freight rail infrastructure, keeps our credit profile strong, and maximizes both the short and long term benefits for the company," he said. CSX is on pace to invest $2.25 billion for capital improvements in 2012, announced a dividend increase early last month and is on track to complete its current share repurchase program by the end of this year.
Empowering the team to make decisions is key to staying nimble, said Eliasson. "CSX has continued to adapt to the changing business environment by driving strong productivity improvements and proactively adjusting resources, all while maintaining high service levels," he noted.
Eliasson has served as executive vice president and chief financial officer of CSX since January 2012. With more than 17 years of management and finance leadership at CSX, Eliasson previously served as vice president of sales and marketing for CSX's chemicals and fertilizer business, vice president of emerging markets, vice president of financial planning and analysis, and vice president of commercial finance.
The CFO Summit brings top financial leaders together to discuss the current challenges and opportunities facing financial leaders across the country. Through keynote presentations, panel discussions and "think tanks," attendees share high-level business concepts, first-hand examples and solutions to common challenges.
CSX Corporation, based in Jacksonville, Fla., is one of the nation's leading transportation companies, providing rail, intermodal and rail-to-truck transload services. The company's transportation network spans approximately 21,000 miles, with service to 23 eastern states, the District of Columbia and two Canadian provinces. CSX's network connects more than 240 short line railroads and more than 70 ocean, river, and lake ports. More information about CSX Corporation and its subsidiaries is available at www.csx.com. Like us on Facebook (http://www.facebook.com/OfficialCSX) and follow us on Twitter (http://twitter.com/CSX).
SOURCE CSX Corporation