By Brooke Sutherland, Bloomberg Gadfly; October 26, 2017
Three top executives don’t leave a company when everything is going swimmingly.
CSX Corp., the railroad that replaced its CEO with storied cost-cutter Hunter Harrison amid pressure from an activist investor, announced more management upheaval on Wednesday. The $47 billion company’s chief operating officer, chief marketing officer and general counsel are all stepping down. I find it hard to believe this reshuffle was planned far in advance because the changes forced CSX to delay an investor conference that had been scheduled for next week. The meeting now won’t happen until February, Harrison told Bloomberg News. I hope analysts’ and shareholders’ flights to Palm Beach, Florida, are refundable.
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