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.
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