Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Business
Classified Sites

The Canadian Press - ONLINE EDITION

CP Rail CEO Hunter Harrison agrees to one-year contract extension to 2017

Canadian Pacific Rail CEO Hunter Harrison is pictured in Calgary, May 1, 2014. THE CANADIAN PRESS/Jeff McIntosh

Enlarge Image

Canadian Pacific Rail CEO Hunter Harrison is pictured in Calgary, May 1, 2014. THE CANADIAN PRESS/Jeff McIntosh

CALGARY - Canadian Pacific Railway Ltd. (TSX:CP) said Wednesday that chief executive Hunter Harrison has agreed to a one-year contract extension that will keep him at the railway until 2017.

He was hired as CEO in 2012 after a bitter proxy fight led by activist investor Bill Ackman's hedge fund, Pershing Square Capital Management.

Ackman picked the former chief executive at Canadian National Railway to turn around Canadian Pacific, which had been under performing.

"When Hunter was brought in to lead the transformational change of this iconic company, the agreement was for four years, plus an option for an additional year," CP Rail chairman Gary Colter said in a statement.

"In seeing CP's rapid turnaround under Hunter's leadership, the board was unanimous in wanting him to stay on until 2017 and we are extremely pleased he has accepted."

CP Rail shares have more than doubled since Harrison was officially hired in June 2012.

Since joining the railway, the 69-year-old Harrison has made wide-ranging changes at CP Rail, which has seen improved financial results.

However, Harrison said there is still work to be done.

"Even though CP has experienced phenomenal success in a short period of time, there remains a lot to accomplish over the next three years to grow this company even further with our customers and shareholders," he said.

Harrison hired former CN executive Keith Creel last year to be his second-in-command as president and chief operating officer.

Creel has been seen as Harrison's likely successor when he retires.

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

Comment
  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.

letters

Make text: Larger | Smaller

Brandon Sun Business Directory
Sudden Surge: Flood of 2014
Opportunity Magazine — The Bakken
Why Not Minot?
Welcome to Winnipeg

Social Media

Canadian Mortgage Rates