CSX railroad announced Monday that it had replaced its CEO less than two months after an investment fund urged it to either find another railroad to merge with to better compete with the proposed transcontinental Union Pacific railroad or fire outgoing CEO Joe Hinrichs. But Ancora Holdings, which helped spur major changes at Norfolk Southern, said CSX's operating performance deteriorated significantly under Hinrichs' leadership. Hinrichs resigned to clear the way for Steve Angel to become CEO effective Sunday. Ancora said CSX has delivered disappointing shareholder returns and poor financial performance during Hinrichs' tenure. Both those projects were just completed this month, so CSX's performance was expected to improve in the fourth quarter.