Daily Record Financial News &
TUESDAY, MARCH 7, 2017
Vol. 104, No. 081 • oNe SectioN
35¢ www.jaxdailyrecord.com
Hunter Harrison is new CEO at CSX Ward, two others leaving board of directors
Hunter Harrison was named CEO at CSX on Monday.
Gabel is honored by Rotary for his service
Special to the Daily Record
By Mark Basch Contributing Writer
After weeks of negotiations, Hunter Harrison became CEO of CSX Corp. Monday — but he could still walk away if shareholders don’t approve his full compensation package. Harrison, former CEO of Canadian Pacific Railway Ltd., took over immediately, the company said in its late Monday announcement. Former CSX CEO Michael Ward, who was planning to retire in May, will act as a consultant to
the company. CSX last month said Harrison was seeking a total compensation package worth more than $300 million and the Jacksonvillebased railroad company was planning a special meeting to let stockholders vote on it. In the Monday announcement, CSX said shareholders will still get an advisory vote on one part of Harrison’s package at the company’s regular annual meeting. He told CSX he will resign after the annual meeting if he doesn’t get that payment, the company said.
CSX also said it agreed with hedge fund Mantle Ridge, which was working with Harrison, to put Harrison, Mantle Ridge CEO Paul Hilal and three other new directors on the company’s board. Harrison has a reputation for cost-cutting and improving performance as CEO of major North American railroads Canadian Pacific and Canadian National Railway. Even before his appointment, CSX last month announced it was cutting about 1,000 managementlevel jobs, with a majority of those CSX CONTINUED ON PAGE 3
Holland & Knight partner not retiring, just relocating To paraphrase Mark Twain, the rumors of George Gabel’s retirement are greatly exaggerated. That’s what Gabel, a well-known maritime and First Amendment and public records law attorney, said Monday before being recognized by the Rotary Club of Jacksonville. The Holland & Knight partner is still representing clients and is general counsel for FHM Insurance Co. So he’ll continue to practice even though he and his wife, Judy, are moving next month to Davidson, N.C., near Charlotte and Davidson College, where Gabel earned his undergraduate degree in 1961. He graduated from the University of Florida Levin College of Law and was admitted to The Florida Bar in 1964. “Davidson is like a second home to us,” he said. It’s where their daughter, Meredith, her husband and two of the Gabels’ four grandchildren live. Gabel Attorney Hank Coxe said Gabel was nominated for membership in Rotary by Tommy Grimes and joined in 1977. Gabel was president of the club in 1987-88, when Rotary invited its first female and African-American members — Frances Bartlett Kinne and Willard Payne. Holland & Knight partner Tim Connor said Gabel’s maritime law practice has allowed him to travel the world, always touting Jacksonville to the international shipping community as a great place to do business. “George has always had an international vision,” said Connor, who has been a colleague of Gabel’s for 27 years. Club member Howard Kelley was general manager of WFGA TV-12 about 40 years ago and said he hired Gabel to repreGABEL
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Special to the Daily Record
By Max Marbut Staff Writer
Seamstresses work at the EastPark Venus headquarters to make swimwear.
Venus rising at One Imeson Swimwear company’s annual sales have grown to $300M
Venus is installing racking for its expanded space in One Imeson in Imeson International Industrial Park.
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As beach season nears, a Jacksonville-based women’s swimwear company that has grown from less than $30 million in annual sales to more than $300 million in eight years is expanding to handle ongoing growth. Venus, a 35-year-old designer, maker and seller of bathing suits and women’s apparel, is expanding into 224,000 square feet at One Imeson in North Jacksonville. “This expansion is the result of our continued business growth and confidence that it will continue in the years ahead,” said Venus President Jim Brewster. Venus sells bathing suits and clothing online and by catalog. It remains based at 11711 Marco Beach Drive in the EastPark business center in Southside. Brewster said Venus began leasing 100,000 square feet at Imeson in MATHIS CONTINUED ON PAGE 4
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