CSX Corporation (NASDAQ:CSX) Settles For Renowned Railroad Executive As The New CEO

Neha Gupta - March 10, 2017

CSX Corporation (NASDAQ:CSX), one of the leading railway giants has appointed its new CEO. It was after a period deep reflection and exchange of ideas that it resolved to put in place Hunter Harrison.

Hunter Harrison is stepping in to fit into the shoes of Michael Ward who has for quite some time been serving CSX both as the board chairman and CEO. The company is not yet still to part away with the services of this top executive who has been serving pretty well in both capacities. For that reason, it intends to keep him quite close so that he serves as a consultant to the high end company.

Harrison spent quite a significant period of time working with Canadian Pacific and hopefully, he will work harder in his new work station where he looks forward to make collaboration with Mantle Ridge’s founder Paul Hilal in a bid to propel the company to greater heights of economic prowess. These two men have been close associates for quite a long period of time and their coming together is expected to help push the company to greater heights.

It is indeed true that Mantle did have a lesser stake in CSX. However, Mantle Ridge saw Harrison as an important pillar and a dependable one at the moment when it comes to the pursuit of success. This top executive as a matter of fact is quite renowned in the railway industry and just to put it straight, his candidature has received overwhelming support from across the board among the company’s shareholders.

Mantle Ridge has indicated overwhelming support for CFX’s decision to add another five members to its board and one thing is for sure-Hilal will be taking a seat as a board member and to be more direct, the board’s vice president. As a matter of fact Edward Kelly will be the one at the “throne”-the chairman.

CSX In a press release stated that Harrison was an important leader who was quite effective in his leadership roles. Some three major railroads owe their transformation to this top executive are hope are up that he is moving in with a wealth of experience that will help transform the company.

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Neha Gupta

Swati has worked in diverse capacities from financial research to currency trading in a span of 3 years.

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