CSX names veteran railroad executive as CEO

Railroad company CSX yesterday named E. Hunter Harrison as its new CEO.

Harrison previously held the top job at Canadian Pacific Railway.

The company is now looking for shareholder approval on a plan to pay Harrison $84 million of the compensation and benefits he forfeited in his separation with Canadian Pacific.

CSX officials said activist "Mantle Ridge agreed to protect Mr. Harrison on an interim basis with respect to this $84 million."

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