Amtrak CEO Stephen Gardner abruptly announced on Wednesday that he’s resigning from his position.
“I am stepping down as CEO to ensure that Amtrak continues to enjoy the full faith and confidence of this administration,” Gardner said in a statement. “From my start as an Amtrak intern back in the 1990s to ending as CEO, it has been my honor and privilege to lead this great American company, and I wish Amtrak every success.”
The departing executive did not offer a specific reason for his resignation, but presidential advisor Elon Musk has pointed to Amtrak — along with the U.S. Postal Service — as a “sad,” money-losing endeavor that should be privatized.
At the Morgan Stanley Technology, Media & Telecom Conference earlier this month, Musk said it’s “kind of embarrassing” how other countries have “way better passenger rail than we do.”
Amtrak, which was founded in 1971, is federally chartered, meaning the U.S. government is its primary shareholder. Its board of directors, including the transportation secretary, is appointed by the president and confirmed by a Senate vote.
During his first term, President Trump repeatedly sought to cut funding to Amtrak, which receives about $2.4 billion in federal funding per year.
Gardner became the CEO of Amtrak in 2022 following the retirement of Bill Flynn. Since 2009, he’d served in a variety of other leadership roles, including chief operating and commercial officer.
“As Stephen departs today, we thank him for his 16 years of service to Amtrak,” the company’s board said in a statement on Wednesday. “We look forward to working with President Trump and Secretary Duffy as we build the world-class passenger rail system this country deserves.”