CSX Responds to Harrison Moves

CSX responded to news reports that E. Hunter Harrison may seek to oust current CSX management by issuing a statement that supported the company’s current executive team and its strategies.

CSX logo 3A CSX spokesman said in the statement: “CSX Corp. welcomes the views of all of our shareholders and always considers their thoughts on the company’s business strategy. Likewise, its board and management team remain supportive of the company’s strategic growth strategy, which has started to deliver sustainable value for shareholders.

“The company and its board of directors will actively evaluate Mantle Ridge’s views and look forward to discussing our core strategy to continue driving earnings growth and shareholder value going forward with Mantle Ridge and all our shareholders.”

The statement referred  to reports that Harrison is retiring from Canadian Pacific earlier than planned and has teamed up with venture capital firm Mantle Ridge to seek to oust CSX CEO Michael Ward.

Harrison would, presumably, become the CEO of CSX and install his own management team.

 

 

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