CSX names new CEO

CSX names new CEO


CSX Corporation has named E. Hunter Harrison, a proven railroad executive with a well-regarded track record of producing market-leading operating results, as Chief Executive Officer. He replaces Michael Ward, who announced his decision to retire as chairman and CEO on February 21, 2017 and will become a consultant to CSX, effective immediately.

The company has also reached an agreement with Mantle Ridge, an investment firm formed by Paul Hilal, to reconstitute the company’s Board of Directors. Under the terms of the agreement, CSX has appointed five new directors to its Board of Directors, mutually agreed upon by CSX and Mantle Ridge and effective immediately – Harrison, Hilal, Dennis Reilley, Linda Riefler and John Zillmer. In addition, three incumbent CSX directors intend to complete their service for the Board at or before the conclusion of the 2017 annual meeting. As a result, the size of the Board will be 13 members.  CSX’s current presiding director, Edward J. Kelly, will become chairman of the Board and Hilal will become vice chairman.

R - New CSX terminal big

Hunter Harrison said: “I am proud to join the dedicated and talented railroaders at CSX. Together, we will implement Precision Scheduled Railroading – a model proven to improve safety, create better service for customers, produce a proud and winning culture for employees, and generate exceptional, lasting value for shareholders.”

CSX, based in Jacksonville, Florida, provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products.

For more information visit www.csx.com

13th March 2017