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

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of