New CEO for CSX World Terminals

New CEO for CSX World Terminals

Robert J. (Bob) Grassi, president and chief executive officer of CSX World Terminals (CSXWT), will retire effective Dec. 31, 2003, and will be succeeded by Andrew B. Fogarty, the company announced today.

Fogarty is currently senior vice president-Corporate Services for CSX Corp.

"Bob's contributions to CSX World Terminals have been enormous," said Ward. "He has played a vital role helping to position the company as one of the premier terminal and shipping services companies in the world. We are grateful for Bob's 26 years of dedicated service to CSX and wish him every success in the future."

Fogarty joined Jacksonville-based CSX in 1989, following a career in government service, including serving as secretary of transportation and later as chief of staff for the Governor of Virginia. Fogarty has held a series of senior positions at CSX, including president of CSX/Sea-Land Logistics and chief financial officer and senior vice president-Finance and Planning at Sea-Land Service, CSX's former container shipping unit. He currently serves as the board chairman of the National Defense Transportation Association.

CSXWT is a unit of CSX Corp., also based in Jacksonville.