(CSX Corp. issued the following news release on March 30.)
JACKSONVILLE, Fla. — CSX Corporation (NYSE: CSX) today announced that former U.S. Sen. John Breaux has been nominated for election to the company’s board of directors. The election of board members will occur at the company’s 2005 Annual Meeting of Shareholders to be held on May 4, 2005.
Breaux, whose Washington career spans more than 30 years, is recognized as a bipartisan leader on national issues. First elected to the U.S. Congress from Louisiana in 1972, Breaux served 14 years in the U.S. House of Representatives and 18 years in the U.S. Senate. Breaux did not stand for re- election in 2004, retiring from the Senate in January 2005.
During his three decades in Congress, Breaux was a leader on transportation, health care, tax and energy policy issues, serving on the Senate Committee on Commerce, Science and Transportation and on the Finance Committee.
Breaux served as chairman of the Commerce Committee’s Surface Transportation and Merchant Marine Subcommittee, which has jurisdiction over matters affecting the railroad and merchant marine and navigation industries.
As a senior member of the Finance Committee, Breaux served as the ranking Democrat on the Subcommittee on Social Security and Family Policy as well as serving on the Health Care and Taxation and IRS Oversight Subcommittees. From this position Breaux was instrumental in helping forge the compromise that led to passage of the landmark welfare reform and health insurance reform bills of 1996.
In 1998, the White House and Congressional leaders selected Breaux to chair the National Bipartisan Commission on the Future of Medicare. That year, he also co-chaired the National Commission on Retirement Policy, which created legislation concerning Social Security reform.
“We believe that John Breaux will be a tremendous asset to CSX and its board of directors. We are excited and honored that he has accepted the nomination to become part of the leadership of our company,” said Michael J. Ward, CSX chairman and chief executive officer.
Ward added, “During his distinguished career in Congress, John Breaux was highly regarded by his colleagues on both sides of the aisle for his leadership and knowledge of the legislative process. Once elected to the board, these skills, along with his in-depth knowledge on a broad range of issues that impact our company, will greatly benefit CSX and our board.”
Breaux currently serves as senior counsel at Patton Boggs LLP, a prominent Washington, D.C. law firm. He also holds the positions of senior managing director of the Clinton Group and managing director of Riverstone Holdings.
In addition, Breaux serves as vice chairman of a national commission appointed in January 2005 by President Bush to make recommendations for changes to the nation’s current tax laws.
CSX Corporation, based in Jacksonville, Fla., owns one of the largest rail networks in the United States. CSX Transportation Inc. and its 32,000 employees provide rail transportation services over a 21,000-mile route network in 23 states, the District of Columbia and two Canadian provinces. CSX Corporation also provides intermodal operations through another subsidiary.