CSX Corp. says CEO Hunter Harrison on medical leave
Florida-based tyrannise CSX Corp. says boss and CEO Hunter Harrison — who headed both vital Canadian railways — is on medical leave due to what it calls “unexpected complications from a new illness.”
Shares of CSX tumbled in Friday trading, sliding some-more than 8 per cent to $52.59 US on Nasdaq.
The association did not divulge a inlet of that illness though his halt replacement, arch handling officer Jim Foote, told analysts that Harrison had done “astonishing” swell in changing a CSX corporate culture.
Harrison, who is in his early 70s, was hired by CSX in Mar after several years heading Canada’s dual biggest railways — Montreal-based Canadian National and Calgary-based Canadian Pacific.
He left CP Rail progressing this year to join CSX, a railway that faces hurdles identical to those he tackled during a Canadian rails.
He was credited with generating poignant increase during both Canadian rail companies by contracting tighter sight schedules and gaunt losses by a government truth famous as “precision scheduled railroading.”
Foote — who worked with Harrison for 11 years during CN Rail and assimilated him during CSX a few months ago — says he fell ill after a multi-day training practice for a company’s managers.
“Beyond that, out of honour to his family, that’s all we can contend during this time,” Foote said.
Questions about Harrison’s health were lifted progressing this year when a Wall Street Journal reported that Harrison mostly works from home and spasmodic uses oxygen given of an undisclosed health issue.
Foote pronounced that Harrison had already instilled his government truth and vital prophesy during CSX and “I do not see any reason to lessen a expectations concerning a gait and bulk of a destiny progress.”
Foote has been CSX’s arch handling officer given late October, a purpose that is mostly seen as a second-highest government arrange after CEO.
Article source: http://www.cbc.ca/news/business/csx-hunter-harrison-medical-leave-1.4450177?cmp=rss