Summary
CSX Corporation filed an 8-K on March 9, 2011, to announce changes to its Board of Directors. Alexandre Behring will not stand for re-election at the upcoming annual meeting due to increased time commitments related to a recent acquisition. This departure is noted as not being due to any disagreement with CSX. In connection with these changes, CSX also announced that former Congressman J.C. Watts, Jr. and J. Steven Whisler will be nominated for election to the Board. Their inclusion will expand the Board's size to thirteen members. These appointments suggest a strategic refreshment of the board's composition.
Key Highlights
- 1Alexandre Behring will not seek re-election to the CSX Board of Directors at the May 4, 2011, annual meeting.
- 2Mr. Behring's decision is attributed to increased professional demands from a recent acquisition by 3G Capital, not a disagreement with CSX.
- 3Former Congressman J.C. Watts, Jr. is nominated for election to the Board.
- 4J. Steven Whisler is also nominated for election to the Board.
- 5The addition of these two nominees will increase the CSX Board of Directors size to thirteen members.
- 6The company provided a press release dated March 9, 2011, detailing these board changes.