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Rail News: CSX Transportation
CSX extends board nominee deadline for 2017 annual meeting
CSX Corp. announced late last week that its board has extended the deadline until Feb. 24 to nominate directors and to propose other business to be considered at its 2017 annual meeting.
The original deadline was Feb. 10. Any director nominations or proposals of other business that comply with the company's bylaws that are received by Feb. 24 may be brought before shareholders for a vote at the annual meeting.
The extended deadline move comes as CSX continues to have discussions with former Canadian Pacific Chief Executive Officer E. Hunter Harrison and activist investor Paul Hilal of Mantle Ridge LP. CSX is discussing a potential contract that would make Harrison CEO of CSX, according to reports by The Wall Street Journal. The newspaper reported that Hilal has requested six seats on CSX's board.
CSX, Harrison and Hilal were scheduled to meet Feb. 10 to discuss the proposal.
Contact Progressive Railroading editorial staff.