By Will Robinson, Reporter, Jacksonville Business Journal; May 8, 2018
CSX shareholders battled in the first quarter of 2017 over whether to hire E. Hunter Harrison, then the CEO of Canadian Pacific Railway. Harrison, credited with turnarounds at CP, Canadian National Railway and Illinois Central Railroad, would only come at a premium, which shareholders agreed to pay last June.
However, shareholders have received conflicting recommendations from proxy advisors over whether to approve the 2017 compensation for CSX executives in this year’s shareholder meeting, May 18 in Jacksonville. The controversy pits two prominent advisors against each other – Glass Lewis & Co., in favor of the proposal, and Institutional Shareholder Services, opposed to the proposal.
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