Is a CEO Worth $200 Million? Shareholders at Rail Giant Think So
- Railroader Harrison requests nine-figure package to run CSX
- Turnaround situations sometime yield "astronomical" pay
Why Hunter Harrison May Be Worth $200 Million to CSX
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Is superstar railroad executive Hunter Harrison worth a $200 million pay package? For that matter, is any CEO worth that?
The question has arisen in a shareholder activist’s campaign to shake up CSX Corp., one of North America’s major railroads. To sway investors and board members, Paul Hilal has promised to install Harrison as the company’s chief executive officer. In the rail business, that’s like a basketball owner vowing to recruit LeBron James. And like James, Harrison doesn’t come cheap.