E Hunter Harrison is to extend his term as Chief Executive at Canadian Pacific after agreeing an extension to his contract to June 2017, the company announced on May 7. Harrison had been appointed in June 2012 on a four-year contract to oversee the turnaround of the railway, and the CP board said its wish for him to exercise an option to stay for a further year was ‘unanimous’.
Chairman Gary Colter said Harrison ‘is arguably the most respected and successful leader in the rail industry and Canadian Pacific’s evolution is stronger than ever with an operating model that will take CP to levels it has not achieved in its 133-year history’. A former vice-chairman of KPMG Canada, Colter had only been named Chairman on May 1, succeeding Paul Haggis, who will stay with CP as a member of its Audit & Finance committee.