On Friday, in premarket trade, CSX Corporation’s shares plunged. What happened? The decline started after the Jacksonville, Florida-based company announced that CEO Hunter Harrison was set to take medical leave due to unforeseen complications from an illness that has yet to be specified.

One cannot help but notice that CSX Corporation (NASDAQ:CSX) announced Harrison’s leave as they continue to deal with a tremendous amount of backlash due to their turnaround plan. The plan has become a target of scrutiny from a number of regulators.

According to Benjamin Hartford of Baird Equity Research, Harrison’s health has been a concern ever since the company hired him. However, Hartford added, “The importance of Harrison’s influence is immense.”

In premarket trade, CSX Corporation’s shares dropped 10.3%.

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Author Caroline Harris

About the author: Caroline Harris is a third-year student at Capilano University in North Vancouver, Canada. Having already completed an Associates Degree in Psychology, Caroline is now finishing her Bachelor's degree in Communications. In preparation for working in the advertisement sector, Caroline is writing financial content and analysis. On a daily basis, Caroline works on articles regarding the following topics: finance, cryptocurrency, technology, and politics.