CSX Corp. on Friday announced that it was extending the deadline for board nominations to Feb. 24, giving an activist hedge fund more time to try and install Hunter Harrison as CEO.
Mantle Ridge LP wants the Jacksonville-based railroad to replace CEO Michael Ward with Harrison, who recently retired as CEO of Canadian Pacific Railway.
The fund run by Paul Bilal wants Harrison to bring his operational acumen to CSX, much as he did at CP, according to a report. It is also seeking several board seats.
Harrison in January gave up tens of millions in compensation in exchange for waiving a non-compete agreement.
Any valid nominations will be voted on at the company’s annual shareholders meeting.