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Amtrak CEO Stephen Gardner announced on March 19, 2025, that he was stepping down so the railroad would retain the Trump administration’s confidence. A contemporaneous Associated Press report relaying Reuters’ account said Trump had asked Gardner to leave, citing unnamed sources; Amtrak did not confirm that account. The departure came amid public discussion of privatizing Amtrak, but it does not establish that Gardner left because of a privatization plan. In 2026, Amtrak proposed an internal corporate restructuring that it says is not privatization; as of October 7, that proposal remained under review.
Why did Amtrak CEO Stephen Gardner step down?
Gardner announced his departure on March 19, 2025. In Amtrak’s announcement that day, he gave this public explanation: “I am stepping down as CEO to ensure that Amtrak continues to enjoy the full faith and confidence of this administration.” That is the on-record reason he supplied; the statement does not say that he was fired or identify a specific disagreement.
Amtrak’s board thanked Gardner and said it looked forward to working with President Donald Trump and Transportation Secretary Sean Duffy. The board’s statement establishes its public position, not the private circumstances behind the leadership change.
Did Trump ask Gardner to resign?
The Associated Press reported on March 20, 2025, that Reuters, citing unnamed sources familiar with the matter, said Gardner was asked to step down at Trump’s request. AP also reported that Amtrak declined to comment on whether Gardner had been asked to resign. The alleged request is therefore a sourced media report, not a fact Amtrak confirmed publicly.
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The timing also matters. AP reported that Elon Musk had floated privatizing Amtrak earlier in March at a Morgan Stanley technology conference. The public privatization discussion preceded Gardner’s departure, but temporal proximity alone does not show that Musk’s remarks or a privatization proposal caused Gardner to leave.
What does “privatize Amtrak” mean in this story?
The 2025 public discussion and Amtrak’s 2026 restructuring proposal are separate developments. The evidence here records Musk publicly floating privatization, but it does not describe a detailed privatization plan with defined ownership, governance, or operating terms. It would be misleading to treat the discussion as an adopted policy or a completed transfer of Amtrak to private ownership.
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Amtrak’s board chair said in May 2026 that President Roger Harris would depart on July 31 as part of a planned transition. Byl Herrmann was to become Interim President while the board searched for a permanent CEO. That later transition is distinct from Gardner’s 2025 departure. As of October 7, 2026, Amtrak’s board roster listed the CEO position as vacant.
Is Amtrak being privatized in 2026?
No completed privatization is described in Amtrak’s current proposal. On July 31, 2026, Amtrak announced a preliminary framework to organize the company into three focused businesses under an Amtrak parent: passenger services, infrastructure management, and fleet management. Amtrak says the proposal “is not privatization,” that the U.S. government would remain the controlling shareholder, and that the existing federal law framework would continue to apply. Those are Amtrak’s stated assurances and characterization.
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The plan was still a proposal on October 7. Amtrak said it was seeking public feedback through October 30, planned to take a formal proposal to its board in December, and had not determined an implementation date. Its September 9 update said leaders had briefed the public board meeting and continued inviting feedback. Byl Herrmann described the framework as preliminary, saying: “Our management team developed this preliminary framework after extensive study and continues to seek input to be sure we get it right.”
What the proposed structure would change
- Passenger services: a focused business for passenger operations.
- Infrastructure management: a focused business for infrastructure responsibilities. Amtrak said this business would oversee more than $5 billion annually in infrastructure investments.
- Fleet management: a focused business for fleet responsibilities. Amtrak said it had more than $10 billion in new fleet investments.
- Parent and ownership: all three businesses would sit under an Amtrak parent. Amtrak says the federal government would remain the controlling shareholder.
The investment figures above are from Amtrak’s July 31 announcement, not the independent operating and capital figures published by the Amtrak Office of Inspector General.
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What do Amtrak’s operating and investment figures tell us?
The Amtrak Office of Inspector General’s July 22, 2026 report on management and performance challenges provides context about the scale of the railroad’s work. The figures describe operating, safety, and capital demands; they do not establish whether privatization or a corporate restructuring would improve performance.
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| Measure | Figure and period | Source |
|---|---|---|
| Train strikes, deaths, and injuries | Approximately 800 strikes, 594 deaths, and 279 injuries from FY 2020 through FY 2023 | Amtrak Office of Inspector General, July 22, 2026 report |
| Capital expenditures | More than $5.5 billion in FY 2025 | Amtrak Office of Inspector General, July 22, 2026 report |
| Projected peak annual capital spending | Around $7.8 billion estimated for FY 2027 | Amtrak Office of Inspector General, July 22, 2026 report |
| Capital projects underway | Nearly 500, including at least 10 valued at more than $1 billion, as of the July 2026 report | Amtrak Office of Inspector General, July 22, 2026 report |
| Passenger trips and revenue | More than 34 million passenger trips and $2.8 billion in revenue in FY 2025 | Amtrak Office of Inspector General, July 22, 2026 report |
How to read the leadership and restructuring timeline
- Early March 2025: AP reported Musk publicly floated privatizing Amtrak.
- March 19, 2025: Gardner announced he was stepping down and gave his public reason in an Amtrak statement.
- March 20, 2025: AP relayed Reuters’ report, based on unnamed sources, that Trump had requested Gardner’s departure; Amtrak did not confirm whether he had been asked to resign.
- May 19, 2026: Amtrak board chair Tony Coscia announced Harris’s planned departure and Herrmann’s appointment as Interim President.
- July 31 and August 1, 2026: Amtrak announced its preliminary corporate framework; Herrmann assumed the Interim President role the next day.
- October 7, 2026 status: The proposal remained under review, with feedback due October 30, a formal board proposal planned for December, and implementation timing undetermined.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
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