CP’s Board amends contract with President and CEO, Keith Creel

Canadian Pacific Railway Limited’s Board of Directors and President and Chief Executive Officer Keith Creel have agreed on contract amendments to Mr. Creel’s incentive compensation that are intended to see him lead the Company until at least early 2026.

CP and KCS  had announced that they have entered into a merger agreement under which CP has agreed to acquire KCS in a stock and cash merger transaction, subject to the satisfaction of closing conditions. Following CP’s acquisition of KCS and Surface Transportation Board approval of the merger, Mr. Creel will serve as the Chief Executive Officer of the combined company.

Since Mr. Creel became CEO in 2017, CP’s share price has increased 150 percent. During that time, and now for 15 consecutive years, CP has remained the safest Class 1 railroad in North America as measured by Federal Railroad Administration-reportable train accident frequency.

Prior to joining CP, Mr. Creel served in various operating roles at BN, Illinois Central and Canadian National, including serving as CN’s Executive Vice-President and Chief Operating Officer. Mr. Creel joined CP in February 2013 as President and Chief Operating Officer. On January 31, 2017, he assumed the role of CP’s President and CEO, becoming the seventeenth leader of the company since 1881.

-via Press Release

This article was posted on: March 22, 2021