Friday, February 13, 2009

Hedge fund gives up a seat on CSX board

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Hedge funds TCI (The Children’s Investment Fund) and 3GCapital Partners won four seats on the CSX Corp. board of directors in a proxy fight last year. Now, TCI managing partner Christopher Hohn has decided not to seek re-election to the board this year and CSX has decided not to fill the vacancy, according to a filing with the Securities and Exchange Commission onFeb. 12.

CSX told the SEC that Hohn’s decision “resulted from his responsibilities in managing his business interests.”

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