President Bush Asks Snow to Head Treasury Department

RICHMOND, Va. — President George W. Bush announced his intention to nominate John W. Snow, chairman and chief executive officer of CSX Corporation, to serve as U.S. Secretary of the Treasury. The nomination is subject to U.S. Senate confirmation.

The CSX Board of Directors and the company’s 41,000 employees are proud that President Bush has named Mr. Snow to join the administration’s economic team and represent the nation in this position of great responsibility.

Michael J. Ward, president of CSX Corporation noted, “John Snow’s contributions to our company, the U.S. transportation industry and the global business community are well known and highly respected. As CEO of CSX Corporation since 1989, he has not only led our company through a critical period of growth and development, but has been a great friend and inspiration to us. The nation will be fortunate to have John at the helm of the Treasury Department.”

Snow, 63, has been active on a broad spectrum of issues through leadership positions at The Business Roundtable, The Business Council and The Conference Board’s Commission on Public Trust and Private Enterprise. His knowledge of financial markets, economic policy, corporate governance and business issues will serve the President and our nation well.

A lawyer and Ph.D. in economics, Snow held a number of government posts prior to joining CSX in 1977 as vice president. During the Ford Administration he served as Deputy Undersecretary of the U.S. Department of Transportation (1975-1976) and as National Highway Traffic Safety Administrator (1976-1977).

He was named president and chief executive officer of CSX Corporation in 1989 and was named chairman in 1991. Snow also serves on the boards of Johnson & Johnson, U.S. Steel, Verizon, CarMax, Inc. and The Johns Hopkins University.

He graduated from the University of Toledo in 1962, received his economics degree from the University of Virginia in 1965, where he taught briefly, and his law degree from The George Washington University School of Law in 1967.

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