(Adds chairman's statement, information about recent market
NEW YORK, Dec 16 (Reuters) - CSX Corp Chief
Executive Hunter Harrison has died, the freight railway operator
said on Saturday, just a few days after announcing that he was
taking a medical leave of absence.
Harrison, 73, died "due to unexpectedly severe complications
from a recent illness," the company said in a statement on
Saturday, adding that he would be succeeded for now by acting
CEO Jim Foote.
Harrison, hired as CEO in March at the urging of activist
investor Paul Hilal, had been in the midst of an ambitious and
sometimes controversial effort to overhaul CSX by laying off
employees and streamlining operations.
"The board will continue to consider in a deliberative way
how best to maximize CSX's performance over the long term," CSX
Chairman Edward Kelly said in a statement that called Harrison a
News of Harrison's leave of absence, announced late on
Thursday, sent the No. 3 U.S. railway's shares tumbling as much
as 10 percent on Friday.
(Reporting by Christian Plumb, editing by G Crosse)
First Published: 2017-12-16 22:25:02
Updated 2017-12-16 22:42:52
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