Market Chatter: Canadian Pacific Names Hunter Harrison CEO

By Midnight Trader,  June 29, 2012, 08:26:57 AM EDT

Canadian Pacific Railways (CP.TO) named Hunter Harrison as chief executive, months after its top shareholder pitched for the former CEO of rival Canadian National Railway Co (CNR.TO), Reuters reports.

Reuters said activist investor William Ackman's Pershing Square Capital Management, CP's biggest shareholder with a 14.1% stake, had been seeking to replace Fred Green with Harrison to help improve CP's worst-in-class operating efficiency.

Green and Chairman John Cleghorn reportedly quit in May, after which the company started a CEO selection process. The company elected Paul Haggis chairman earlier this month.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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