Independent Inspector of Elections Confirms Four TCI/3G Nominees Elected to CSX Board of Directors
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NEW YORK--(BUSINESS WIRE)--
The Children's Investment Fund Management (UK) LLP ("TCI") and 3G Capital Partners, Ltd. ("3G") today announced that the preliminary report from IVS Associates, Inc., the independent inspector of elections for CSX's 2008 Annual Meeting, has confirmed that shareholders have elected four TCI/3G nominees - Alex Behring, Chris Hohn, Gil Lamphere and Tim O'Toole - to the 12-member board of directors of CSX Corp (NYSE: CSX).
TCI and 3G also announced that the TCI/3G special meeting proposal, which allows special meetings to be called for any purpose by holders of 15% of the outstanding shares, was approved and the by-law amendment proposed by CSX, which effectively would prohibit shareholders from calling special meetings to elect directors, was rejected. Also, the TCI/3G proposal to repeal any recent by-law amendments, including a recent restrictive by-law regarding the right of shareholders to call a special meeting, was approved by shareholders.
TCI and 3G stated: "The election of four of TCI/3G's nominees is a great victory for all CSX shareholders. We thank our fellow shareholders for their strong support for the principles and ideas advanced by our nominees, and we appreciate the focus and dedication of all CSX employees throughout this process. Our newly elected directors are committed to working with their fellow Board members to make CSX the leading railroad in America."
About TCI
TCI is a London-based asset manager founded in 2003 which manages The Children's Investment Master Fund. TCI makes long-term investments in companies globally. TCI is authorized and regulated in the United Kingdom by the Financial Services Authority. The majority of TCI's profits go to The Children's Investment Fund Foundation, a non-profit organization focused on improving the lives of children living in poverty in developing countries.
About 3G
3G manages a private investment fund that invests in global equities and special situations. 3G Fund L.P. leverages its deep industry and operating expertise in different sectors to identify attractive, long-duration investment opportunities.
Source: The Children's Investment Fund Management LLP
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