Hunter Harrison Is Discussing CSX Succession Plans: Should You Beat Him Out the Door?
Hunter Harrison, not even a year into the job as CEO of railroad CSX (NASDAQ: CSX), told the audience at an investor conference this week that he is "trying to step back a little bit" to give the rest of the management team space. Given the way shares of CSX have soared just on the prospect of a Harrison-designed turnaround, it might be wise to hit the exit before he does.
Shares of CSX popped 29% in January after word leaked that activist fund Mantle Ridge would attempt to replicate the turnaround Bill Ackman's Pershing Square Capital Management spearheaded at Canadian Pacific. CSX's stock eventually hit an all-time high as part of the excitement, and with good reason: Ackman's five-year run with Canadian Pacific that started in 2011 was a success for investors, with CP shares more than tripling during the time he was involved.
Image source: Getty Images.
Source: Fool.com
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