CSX Corporation issued the following response to today’s press release from a group of shareholders, including The Children’s Investment Fund Management (U.K.)LLP and 3G Capital Partners, LTD, announcing its intent to nominate a minority slate of directors to stand for election at the 2008 Annual Meeting:
‘CSX has a strong Board of Directors with a broad range of experience. This group of directors has driven the company’s successes, including nearly tripling the stock price in the past three years, and provided shareholders a return better than the rest of the North American rail industry and 89 percent of all S&P companies.
‘The Board and management team believe that the CSX directors are well qualified to further advance the interests of the company’s shareholders, as well as its employees, customers and communities. The Board also believes the company’s outstanding record of financial, safety and operational improvements demonstrates unequivocally that CSX is a well run company.’