CALGARY, Jan. 27, 2016 /CNW/ - Canadian Pacific Railway
Limited (TSX: CP) (NYSE: CP) today announced that Matthew H. Paull has been appointed to the CP
Board of Directors effective immediately, replacing Paul Hilal, who
has resigned from the board.
Mr. Hilal, who was Chair of the Management Resources and
Compensation Committee and member of the Finance Committee, joined
the board in 2012. Mr. Hilal's departure from CP coincides with his
resignation from Pershing Square Capital Management, L.P.
"I would like to thank Paul for his valuable contributions to
the Board since joining in 2012. Not only was he a key catalyst for
change at CP, but his relentless energy and thoughtful leadership
has continued to help guide the positive transformation of the
company," said Andrew F. Reardon,
Chairman of the Board. "We wish him well in his future
endeavors."
"Paul was the visionary who first recognized that CP was a good
railroad that could become great with the right team and right plan
in place," said E. Hunter Harrison,
CP Chief Executive Officer. "We thank him for his tireless service
on behalf of CP's shareholders and his dedication to the
board."
Mr. Paull joins the CP board after a career spent in senior
financial roles. He was Senior Executive Vice President and Chief
Financial Officer of McDonald's Corp. from 2001 until he retired in
2008. Prior to joining McDonald's in 1993, Mr. Paull was a
partner at Ernst & Young where he managed a variety of
financial practices during his 18-year career.
He served as a director and a member of the Audit Committee of
Best Buy Co. from 2003 through 2013, as its Lead Independent
Director from 2010 through 2013, and also served as Chairman of its
Finance and Investment Policy Committee. Mr. Paull has served
as a director of Air Products & Chemicals Corp. since 2013,
where he now chairs the Audit and Finance Committee, and as a
director of KapStone Paper and Packaging Corp. since 2010. Mr.
Paull also serves as an advisory director of Pershing Square
Capital Management and The One Acre Fund.
"Matthew brings a valuable breadth of experience at the
executive and board levels that will have an immediate positive
impact on CP's board," Mr. Reardon said. "We welcome him to CP and
look forward to working with him on behalf of all CP
shareholders."
Mr. Paull will chair the Board of Directors' Audit
Committee.
About Canadian Pacific
Canadian Pacific
(TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the
United States with direct links to eight major ports,
including Vancouver and
Montreal, providing North American
customers a competitive rail service with access to key markets in
every corner of the globe. CP is growing with its customers,
offering a suite of freight transportation services, logistics
solutions and supply chain expertise. Visit cpr.ca to see the rail
advantages of Canadian Pacific.
SOURCE Canadian Pacific