March 6 (Reuters) - Csx Corp CSX.O
* CSX names Hunter Harrison as chief executive officer
* Says Harrison replaces Michael Ward, who announced his decision to retire as chairman and CEO on February 21, 2017
* Reached an agreement with Mantle Ridge LP, an investment firm formed by Paul Hilal, to reconstitute company's board of directors
* CSX shareholders to vote on proposed reimbursement in respect of foregone compensation of harrison at upcoming annual meeting of shareholders
* named Hunter Harrison as chief executive officer, effective immediately
* CSX has appointed five new directors to its board of directors, mutually agreed upon by CSX and Mantle Ridge and effective immediately
* In addition, three incumbent CSX directors intend to complete their service for board at or before conclusion of 2017 annual meeting
* As part of his compensation, Harrison will receive an award of incentive options to purchase 9 million shares of Co at current trading price
* CSX's current presiding director, Edward Kelly, III, will become chairman of board and hilal will become vice chairman
* Says previously convened special meeting of shareholders will not be held
* Harrison indicated that he will resign after 2017 annual meeting if reimbursement and tax indemnity are not provided by CSX
* Says "CSX board does not intend to make a recommendation to shareholders on matters being put forward for a vote"
* To facilitate Harrison's separation from CP, Mantle Ridge agreed to protect Harrison on interim basis with respect to $84 million compensation
* Goldman, Sachs & Co. And UBS Securities LLC are serving as financial advisors to CSX
* Size of board will be 13 members
* To seek shareholder input for requested payment of $84 million compensation, benefits forfeited by Harrison for separation from Canadian Pacific Source text for Eikon: ID:nGNXNQOYHa Further company coverage: CSX.O