Category: CSX

CSX reaches deal with hedge fund, hires new railroad CEO

Hunter Harrison , the executive who led Canadian Pacific’s turnaround, will become the CEO at Jacksonville, Florida-based CSX immediately, replacing Michael Ward . Harrison, Paul Hilal – the founder of the Mantle Ridge hedge fund that has been pressuring CSX – and three others will also join the railroad’s 13-member board, CSX Corp. said Monday.

Is a CEO Worth $200 Million? Shareholders at Rail Giant Think So

Is superstar railroad executive Hunter Harrison worth a $200 million pay package? For that matter, is any CEO worth that? The question has arisen in a shareholder activist’s campaign to shake up CSX Corp., one of North America’s major railroads. To sway investors and board members, Paul Hilal has promised to install Harrison as the company’s chief executive officer.

CSX Said Near Deal to Name Harrison CEO as Soon as Next Week

CSX Corp. may install Hunter Harrison as chief executive officer as early as next week as the railroad and an activist shareholder move closer to ending an impasse over Harrison’s compensation, people familiar with the matter said. Harrison would start as soon as possible under a four-year contract, said the people, who asked not to be identified because the discussions are private.

CSX Activist May Undercut Own Message With Pay Demands: Gadfly

It’s opposite day at CSX Corp., where an activist investor is fighting for — rather than against — a jumbo-sized executive pay package. Mantle Ridge, led by former Bill Ackman lieutenant Paul Hilal, has amassed a stake in the railroad and is seeking to install former Canadian Pacific Railway Ltd. CEO and storied cost cutter Hunter Harrison in the top post at CSX.

CSX Eyes Special Meeting to Vote on Activist Fund’s Proposals

The railroad giant is seeking guidance from investors about whether to support an activist investor’s proposals to replace the company’s CEO and obtain six director seats. Railroad giant late Tuesday said it was calling a special shareholder meeting to seek guidance from investors about whether to support a series of proposals issued by an activist investor who is seeking to replace the company’s CEO and obtain six director seats on a newly formulated fourteen-person board.

CSX Said to Hit Roadblock in CEO Negotiations With Harrison

CSX Corp. and Hunter Harrison have discussed a three-year contract for the railroad veteran to take over as chief executive officer, but the deal has bogged down over details on how to support his plan to turn around the company, according to a person familiar with the situation. CSX on Friday extended the deadline to nominate directors as it negotiates with activist investor Paul Hilal, who is working with Harrison and seeking six seats on the company’s board, the person said.

CSX extends director deadline as activist seeks CEO ouster

CSX Corp has extended the director nomination deadline for its board of directors, giving the U.S. railroad company more time to reach an agreement with an activist investor and industry veteran Hunter Harrison. CSX said the deadline would be extended to Feb. 24 from Friday, in a sign that the two sides remain in talks but have details to hammer out.

Jim Cramer: CSX Needs to do ‘Something,’ or Else

Investors seem to be all abroad the CSX train on Thursday, as shares of the railroad corporation were spiking over 19% this afternoon. Despite reporting weaker-than-expected earnings results after Wednesday’s bell, the stock jumped after news broke of the departure of Canadian Pacific CEO Hunter Harrison is stepping down.