Ocean Carrier Review
Pacific Northwest Ports
View Issue #578 Now!
Another Canadian Pacific executive resigns
Canadian Pacific Railway Ltd said chief operations officer Mike Franczak resigned effective immediately, the latest top executive to leave Canada’s second-largest railroad.Franczak, who is also an executive vice president, has been with the company since 1987.
Canadian Pacific’s Chief Executive Fred Green and Chairman John Cleghorn had quit in May after the management lost a proxy battle to activist shareholder William Ackman and his company, Pershing Square Capital Management.
Three board members resigned later.
The position of chief operations officer will not be replaced at this time, the company said. (Reuters)
American Journal of Transportation
116 Court Street, Suite 5
Plymouth, MA 02360
© Copyright 1999–2014 American Journal of Transportation.All Rights Reserved.