Hunter Harrison 'Disappointed' CSX Board, Activist Partner Unable to Reach Settlement
According to the Wall Street Journal (Feb. 16, McNish, Lublin), Hunter Harrison is frustrated that "chest pounding" between his activist investment partner and board members of CSX Corp. have resulted in a breakdown in negotiations for him to take the reins of the railroad. "I wish the two sides would get together and allow for this value creation for the shareholders instead of going through these games which create nothing but further anxiety for the shareholders," Harrison told the Journal. CSX offered the CEO position to the 72-year-old railroad veteran a week ago. But negotiations broke down when Paul Hilal, Harrison's activist partner, refused to back away from some compensation and corporate governance demands.
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