Oscar Munoz, CSX Corp.’s No. 2 executive, is leaving the Jacksonville-based railroad company to become chief executive officer of United Continental Holdings Inc.
Munoz was just promoted from chief operating officer to the additional role of president of CSX in February, putting him second in line behind Chairman and CEO Michael Ward.
CSX on Tuesday announced several promotions as Munoz resigned from the company, including appointing Executive Vice President Clarence Gooden as the company’s new president.
Munoz was hired by United on Tuesday after its CEO, Jeff Smisek, resigned. Munoz has served on United’s board of directors since 2010.
United said the resignations of Smisek and two other executives are tied to a previously disclosed federal investigation of their dealings with the Port Authority of New York and New Jersey.
Munoz had been with CSX since 2003 after holding executive positions with several major corporations, including AT&T Consumer Services and The Coca-Cola Co.
“Oscar’s track record demonstrates that he has the right blend of strategic vision and strong leadership to continue United’s upward trajectory,” United’s new Chairman of the Board Henry Meyer said in a news release. Meyer was also appointed Tuesday to replace Smisek as chairman.
In addition to promoting Gooden to replace Munoz as president, CSX appointed Executive Vice President Cindy Sanborn to succeed Munoz as COO.
Executive Vice President and Chief Financial Officer Fredrik Eliasson was appointed to succeed Gooden as chief sales and marketing officer.
Former Vice President Frank Lonegro was promoted to executive vice president and CFO to replace Eliasson.
In a news release, Ward said, “I look forward to leading this dynamic team, and have every confidence in our ability to deliver a compelling future for CSX. I plan to leverage this team’s leadership and tremendous skills in safety, customer service and efficiency as CSX executes its strategies to achieve ever-better levels of financial performance.”
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