A CSX freight train travels in Washington, U.S., December 14, 2024. REUTERS/Benoit Tessier

(Reuters) -CSX Corp on Monday has appointed Steve Angel as its top boss, replacing Joe Hinrichs, as the railroad operator fends off pressure from an activist investor while facing industry consolidation.

Shares of the company rose about 3.5% in morning trading.

The announcement comes as CSX has faced activist pressure from Ancora Holdings to pursue merger options to replace Hinrichs.

Angel brings on more than four decades of experience, including at Linde plc and 22 years at General Electric, where he was involved in locomotive and rail operations.

Hinrichs will work closely with the board and management to help with the transition, CSX said.

Since news of Union Pacific's and Norfolk Southern's surprise $85 billion merger deal in the industry's largest ever buyout, there has been mounting speculation about more big mergers, including one involving CSX. Easing antitrust concerns under the Trump administration have only added to the optimism.

CSX has said that it is open to all ways to boost the stock price for shareholders.

Toms Capital Investment Management also requested a meeting with the board at CSX in August after buying a stake in the U.S. railroad operator, fueling the notion that the hedge fund too may push for a possible merger.

(Reporting by Nathan Gomes in Bengaluru; Editing by Mrigank Dhaniwala and Leroy Leo)