CSX holds off investor conference

CSX Corp. announced yesterday that it would postpone its investor conference scheduled for Oct. 30.

The postponement follows yesterday's news that three of CSX's top executives — Cindy Sanborn, Fredrik Eliasson and Ellen Fitzsimmons — would leave the company next month.

Additionally, President and Chief Executive Officer E. Hunter Harrison announced yesterday that James Foote will join the company as chief operating officer.

"Our team continues to build momentum and the addition of Jim increases my confidence in our ability to serve customers and deliver shareholder value," said Harrison in a press release. "I am more confident than ever in CSX’s ability to achieve industry leading operating and financial performance and look forward to showcasing our leadership team at a future date."

Also yesterday, CSX said its board authorized $1.5 billion in share repurchases, which builds on the $1.5 billion program recently completed.