Daily Record Financial News &
Monday, September 14, 2015
Vol. 102, No. 216 • Two Sections
35¢ www.jaxdailyrecord.com
CSX to Ward: Stay ‘a few more years’
As CSX Corp. made several top-level management changes last week, its board of directors asked CEO Michael Ward to stay in place for “a few more years,” Executive Vice President Fredrik Eliasson said at an investor conference. Eliasson was speaking at a previously scheduled conference Wednesday morning, just 16 hours after CSX President Oscar Munoz left the company to become CEO of United Continental Holdings Inc. Munoz had been considered by many to be Ward’s heir apparent as CSX chief executive.
Munoz’s departure prompted a reconstruction of the company’s executive suite, including elevating Eliasson from chief financial officer to chief sales and marketing officer, replacing Munoz in that position. “Obviously this was a surprise,” Eliasson said at the conference in Boston held by Cowen and Co., which was broadcast over the Internet. However, he said CSX’s board has a “robust” succession-planning process that sprang into action after Munoz left. “What we did here is essentially accelerate some of the moves
Incoming Florida Bar president to talk Vision 2016
that I understand the board had planned to do over the next few years anyway,” Eliasson said. “Within that context they asked Michael to stay on for a few more years,” he said. Another move was the promotion of Executive Vice President Clarence Gooden to president to succeed Munoz. But Gooden is only a year younger than the
64-year-old Ward, so he seems less likely to be his successor. Munoz is eight years younger than Ward. CSX also promoted Executive Vice President Cindy Sanborn to chief operating officer, filling another role that had been held by Munoz. Sanborn and Eliasson are both executives who could be in line to eventually succeed Ward as CEO of the Jacksonville-based railroad company. Despite all the management shifts, Eliasson said nothing is really changing in the operation Basch continued on Page A-7
Ward
An early uplifting moment for Jags
When William Schifino Jr., presidentelect of The Florida Bar, visits Jacksonville next week for The Jacksonville Bar Association’s member luncheon, he won’t deliver a traditional keynote address. “It will be more of a town hall conversation with a question and answer format,” he said. Schifino, managing partner in the Tampa office of Burr & Forman, will take over leadership of the state association in June 2016. He already is traveling throughout the state spreading the message of Vision 2016, the association’s initiative focused on equal access to justice, how technology is changing the legal profession, law school education and Bar admission. “The idea is to present a holistic view of the practice of law, evaluate changes and find ways to improve the profession for citizens and (Bar) members,” he said. Two of the vision’s focuses — access to justice and technology — are closely related. Schifino said despite members of the state Bar performing 1.4 million hours of pro bono service Schifino the past year — a value of about $500 million — the need is greater than the supply. There are attorneys at all levels of experience and hourly billing rates who could assist people in need of representation. “It’s alarming that in so many family law, juvenile and landlord-tenant cases, at least one litigant is not represented,” he said. And the lack of representation affects both sides of the bench. “Judges are not advocates. They are forced to watch litigants flounder,” said Schifino. Schifino
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Jacksonville Jaguars guard Zane Beadles lifts wide receiver Rashad Greene in the end zone, celebrating the team’s first touchdown of the season. It wasn’t enough, though, as the team fell Sunday to the Carolina Panthers 20-9 at EverBank Field, the first game of the new season.
Photo by Bobby King
By Max Marbut Staff Writer
Web.com says cyberattacks bound to happen By Mark Basch Contributing Writer As the chief executive of a company that provides website development services for businesses, David Brown often warns people of the dangers of cyberattacks. “It’s not a matter of if it’s going to happen. It’s when,” Brown said Friday during an interview at TPC Sawgrass. So despite taking every precaution, it was not a shock when Brown’s company, Web.com Group Inc., discovered a breach of its own computer systems last month that exposed credit-card information for
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about 93,000 of its 3.3 million customers. “It was a very unfortunate situation,” Brown said, but it could have been worse. “In this particular case, we actually caught the breach while it was happening,” he said. That minimized the potential damage, but Web.com took precautions anyway to help customers who may have been affected, including offering one year of credit-monitoring protection. Brown said Web.com has spent “tens of millions” of dollars on Internet security, but no company is completely invulnerable to an attack.
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“The whole cybersecurity world has been amped up dramatically over the past few years,” he said. Brown said Web.com experienced a “minimal” loss of customers because of the breach, and it will be immaterial to the company’s finances. Brown was at TPC Sawgrass for a news conference for the upcoming Web.com Tour Championship, which will be played Oct. 1-4 at Dye’s Valley Course at the golf club. Web.com became the primary sponsor three years ago of the secondary golf tour Cyberattacks continued on Page A-10
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