Guido De Ciccio retires from CP
Canadian Pacific announced that Guido De Ciccio, Senior Vice-President, Operations Western Region, is retiring from CP after four decades of dedicated service.
Canadian Pacific
CFO change at CP
Canadian Pacific announced Sept 8, 2016 that Executive Vice President and Chief Financial Officer Mark Erceg has resigned, effective immediately, to join a U.S. company. Nadeem Velani has been appointed interim Vice President and CFO.
Ackman bails from CP board
Approximately one month after billionaire hedge fund manager Bill Ackman dumped all his shares in Canadian Pacific Railway Ltd. and walked away with an estimated $1.5 billion to pursue other ventures, he has resigned from CP’s Board of Directors.
CP voices support for expanding LVVR
Canadian Pacific announced Aug. 25, 2016 that it “welcomes the release of the full proceedings from the Canadian Transportation Safety Board’s (TSB) recent Transportation Safety Summit and urges government officials to take action on LVVRs (locomotive video and voice recorders).”
CP: Ackman cashes out
Pershing Square Capital Management L.P. principal Bill Ackman has sold all his shares in Canadian Pacific, walking away with a cool $1.5 billion.
For CP, a tough second quarter
The second quarter of 2016 was not kind to Canadian Pacific, though in line with CP’s quarterly outlook, released in June.
Commentary
Hunter Harrison: Disrupting the status quo
National Transportation Policy mandates that railroads be managed efficiently. While railroad performance is reflective of improvement, some railroads excel, with the reasons increasingly under digital scrutiny by activist money managers entrusted with investments of foundations, endowments and pension funds seeking superior returns.
CN, CP assisting in wildfire relief efforts
CN and the Canadian Pacific announced on May 5, 2016 that they are contributing a minimum of C$150,000, combined, to help people affected by the devastating wildfires that have swept through Northern Alberta, forcing emergency evacuations of some 80,000 people and destroying thousands of homes and businesses.
The Thoroughbred that got away
Cover story from the May 2016 issue of Railway Age: Norfolk Southern has been looking over its shoulder for almost a year. Now, it can focus its attention ahead.
TSX accepts CP’s previously announced share repurchase program
Canadian Pacific Railway Limited announced on April 28, 2016 that the Toronto Stock Exchange (TSX) has accepted its notice to implement a normal course issuer bid (NCIB) to purchase, for cancellation, up to 6,910,000 common shares or approximately 5% of CP’s “public float”, as at April 19, 2016. The NCIB is scheduled to commence on May 2, 2016 and is due to terminate no later than May 1, 2017.