Canadian Pacific names new operation heads
(Reuters) - Canadian Pacific Railway CP.TO named three new operation heads on Tuesday, in the first major management reshuffle within the rail company since a bruising proxy battle earlier this year.
A number of CP's longtime board members, including former Chief Executive Fred Green and former Chairman John Cleghorn, have resigned over the last six months, after the company lost a proxy battle with activist investor William Ackman and his company, Pershing Square Capital Management.
All seven members of Ackman's slate were elected to Canadian Pacific's board at an annual shareholder meeting in May. Since then the company has gone on to name Hunter Harrison -- Ackman's preferred candidate and the former chief executive of rival railroad Canadian National Railway (CNR.TO: Quote) -- as its new CEO.
In a statement on Tuesday, Canada's No. 2 railroad company, said it has named Doug McFarlane as its Senior vice-president of U.S. Operations; Guido De Ciccio as senior vice-president of its Canadian Operations and Scott MacDonald as its senior vice-president of operations systems.
All three long-time CP hands, who have risen through the ranks, will report directly to Hunter Harrison.
(Reporting by Euan Rocha; Editing by M.D. Golan)
© Thomson Reuters 2017 All rights reserved.