Brooke Sutherland, Columnist

CSX CEO's Strong-Arm Tactics

The company is right to hold firm on a shareholder vote for Hunter Harrison's pay demands, but to what end?

March 7, 2017 at 5:37 PM UTC

Brooke Sutherland is Bloomberg News' Boston bureau chief and writes the Industrial Strength Newsletter. She was previously a Bloomberg Opinion columnist covering deals and industrial companies and an M&A reporter for Bloomberg News.

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Hunter Harrison is passing Go and he wants his $84 million.

The lauded railroad turnaround specialist was officially installed as CEO of CSX Corp. late Monday as the company acquiesced to most of the demands of the activist investor backing his candidacy. In an interview with the Wall Street Journal last month, Harrison had lamented an earlier breakdown in negotiations over compensation and board seat disagreements as "chest pounding," calling for the two sides to stop going "through these games which create nothing but further anxiety for the shareholders." Yeah, about that.