(CSX issued the following news release on August 7.)
JACKSONVILLE, Fla. — Michael J. Ward, CSX Corporation chairman, president and chief executive officer and CSX Transportation’s (CSXT) president, announced today that Frederick J. Favorite, Jr., has been named senior vice president-performance improvement at CSX Transportation. The appointment is effective immediately.
Favorite, who reports directly to Ward, is responsible for coordinating and implementing an integrated performance improvement program that incorporates the company’s fact-based Six Sigma approach to improve productivity throughout the company.
“Fred has played a key role in developing and implementing CSXT’s vision and values across the company,” said Ward. “His commitment to Six Sigma and our company’s core values of ‘fact-based’ and ‘right results, right way’ will help to ensure the success of our performance improvement efforts, ultimately resulting in improved value for our customers and shareholders.”
Favorite’s responsibilities include implementation of a process-focused structure that will facilitate culture change and continuous improvement throughout the organization. He will oversee implementation of a balanced scorecard to link the company’s improvement efforts to its strategic business objectives, and continued development and implementation of the Six Sigma program.
Prior to his current role, Favorite held the positions of senior vice president-finance and vice president-planning and analysis at CSXT. He has also served in senior financial posts at Sea-Land Service, Inc., and was chief commercial officer for the CSXT’s coal unit. Favorite earned a Bachelor of Science degree from Duquesne University.
CSX Corporation (NYSE: CSX), based in Jacksonville, Fla., owns the largest rail network in the eastern United States. CSXT and its 34,000 employees provide rail transportation services over a 23,000 route-mile network in 23 states, the District of Columbia and two Canadian provinces. CSX Corporation also provides intermodal and global container terminal operations through other subsidiaries.