Top 2 CSX executives retiring, railroad lays off 1,000 management employees


AP

OMAHA, Nebraska — The top two CSX executives will retire this spring, and the railroad plans to lay off roughly 1,000 management employees next month.

CSX Corp. announced both moves Tuesday as the railroad faces pressure from a hedge fund seeking to install the executive who led Canadian Pacific’s turnaround, Hunter Harrison.

CSX Chairman and CEO Michael Ward and President Clarence Gooden will both retire at the end of May. Previously, Ward had planned to work through 2019.