(The following article was posted on the Florida Times-Union website on February 13.)
JACKSONVILLE, Fla. — After waging a nearly year-long proxy fight to gain a seat on CSX Corp.’s board of directors, the managing partner of The Children’s Investment Fund will not seek reelection to the board at this year’s annual meeting.
Jacksonville-based CSX filed a statement with the Securities and Exchange Commission Thursday saying that Christopher Hohn has asked to not be included as a nominee for reelection.
Hohn told the company “this decision resulted from his responsibilities in managing his business interests,” the statement said.
Hohn was one of four representatives nominated by hedge funds TCI and 3G Capital Partners Ltd. to win election to CSX’s 12-member board in 2008. With Hohn not seeking reelection, CSX has decided to reduce the size of its board to 11 members.