(Reuters) - Hunter Harrison, the former railroad boss that an activist investor wants installed as chief executive at Canadian Pacific Railway (CP.TO), said on Monday he would take costs in hand at CP but not head down a “slash and burn” path.
Harrison, a former CEO of Canadian National Railway (CNR.TO), also said he would “declare war on bureaucracy” at CP within the first 100 days if he took the top job at Canada’s second biggest railroad.
Harrison is activist investor William Ackman’s choice to replace CP CEO Fred Green. Ackman’s Pershing Square Capital Management owns a 14.2 percent stake in CP and wants to install five new directors and replace the railroad’s CEO in a bid to boost the company’s flagging performance.
Reporting By Nicole Mordant; Editing by Peter Galloway