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All of the Financial Press has reported this morning that Hunter Harrison has taken medical leave. Pick your own news source to "read all about it".
Meantime, in early trading today, CSX is down over 10% trading at about $54 a share.
CSX Corp Chief Executive Hunter Harrison died on Saturday, a day after the surprise announcement that he was placed on medical leave caused the railroad company to lose $4 billion in market value.
At the time of his death at 73 years old, Mr. Harrison left unfinished his most challenging assignment, the turnaround of CSX.
He joined the Jacksonville, Fla., railway in March of this year as CEO after he ignited a shareholder revolt by joining forces with a Wall Street activist to replace CSX’s long-serving boss and some directors.
CSX said Saturday afternoon that Mr. Harrison died from “unexpected severe complications from a recent illness.”
The railroad’s chairman, Edward Kelly, said the company “has suffered a major loss” but the board was confident its acting CEO and the rest of its leadership team would “capitalize on the changes” introduced by Mr. Harrison.
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