CANADA: Canadian Pacific has announced several senior appointments following the resignation of six board members, including Chairman John Cleghorn and President & CEO Fred Green. Madeline Paquin (photo) takes over as Acting Chairman and Stephen Tobias, formerly Chief Operations Officer at Norfolk Southern, becomes interim CEO.
Also stepping down are Tim Faithfull, Edmond Harris, Michael Phelps and Roger Phillips. They will be replaced by William Ackman and other candidates nominated by Pershing Square Capital Management, which owns a 14.2% stake in CP.