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

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note