CSX shareholders vote to pay CEO $84 million
CSX said its shareholders approved an $84 million payment related to the hiring of CEO E. Hunter Harrison.
Harrison was hired as CEO of the railroad company three months ago and had said he would resign if the payment wasn’t approved.
Jacksonville, Fla.-based CSX said 93 percent of the votes Monday were in favor of making the payment.
Of the $84 million, $29 million will go to Harrison for compensation he earned at his previous employer, Canadian Pacific Railway Ltd., that he had to forfeit in order to join CSX.