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

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note