CSX Corp. said its board of directors unanimously elected Oscar Munoz as president, effective immediately, and that he will remain chief operating officer.

Munoz joined CSX in 2003 and has worked as chief financial officer and vice president of AT&T Consumer Services. He also has held executive-level positions with Coca-Cola Co. and PepsiCo Inc.

“It is a privilege to take on this role at a time when CSX is becoming stronger than ever,” Munoz said in a statement.

“Together with our 31,000 talented employees and this experienced leadership team, CSX is intensifying the execution of its core strategy to capitalize on the many growth opportunities before us and create sustainable value for our customers, our shareholders and the communities we serve,” he added.

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