Upon Executive Vice-President and Chief
Operating Officer, Keith Creel, announcing that he will join Canadian Pacific
Railway Company CP as its President and Chief Operating Officer, CN
CNI stated today that it had settled its differences with CP and its
former CEO Hunter Harrison. The settlement ends the outstanding litigation
between CN and CP before the Federal Court in Chicago, Illinois. As part of
the settlement, CP has undertaken not to hire certain CN employees until
December 31, 2016. Other terms of the settlement remain confidential.
As a leader in the North American rail industry, CN has a deep bench of
executive talent and will be announcing shortly a replacement to Keith Creel
as Executive Vice-President and Chief Operating Officer.
CEO Claude Mongeau said: "We wish Keith success in his new role and are
pleased to turn the page with respect to the matter of CP's hiring of CN's
former CEO, Hunter Harrison. The settlement arrived at today will allow CN
and CP to focus on their respective agendas and create value for their
customers and shareholders."
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