TCI’s Hohn Among Nominees For CSX Board

Dec 20 2007 | 7:34am ET

It’s not just a war of words anymore. Activist hedge fund The Children’s Investment Fund yesterday unveiled its slate of director nominees for CSX Corp., signaling that it plans to wage a proxy battle against the railroad giant.

Among the nominees proffered by TCI and fellow hedge fund 3G Capital Partners is TCI founder Christopher Hohn.

TCI has been agitating for corporate governance reform and improved financial performance at CSX.

Following the announcement by TCI, the Jacksonville, Florida-based railroad company defended itself, saying that it had not underperformed its peers and that its board has actually helped the company nearly triple its stock price.

"This group of directors has driven the company's successes, including nearly tripling the stock price in the past three years, and provided shareholders a return better than the rest of the North American rail industry and 89% of all S&P companies,” said the statement.

"The board also believes the company's outstanding record of financial, safety and operational improvements demonstrates unequivocally that CSX is a well run company."

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...