The Daily CSX: CSX Put All Its Eggs in One Basket

By Brooke Sutherland, Bloomberg Gadfly; December 18, 2017

CSX Corp. shareholders paid $84 million for Hunter Harrison. They’re now getting James Foote.

Harrison died over the weekend, just days after the company announced he would take a medical leave because of unexpected complications from a recent illness. The 73-year-old railroad-turnaround expert had been CEO for less than a year after campaigning for the job — and a rich payout — with activist investor Mantle Ridge. Foote, who worked with Harrison at Canadian National Railway Co., was named acting CEO. He joined CSX less than two months ago after a management upheaval that saw three of the company’s top leaders depart, including chief marketing officer Fredrik Eliasson, whom some had seen as a potential successor to former CEO Michael Ward before Mantle Ridge showed up.

Click here to read the full story.

 

 

Please share with others