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CP announces retirements, shuffles leadership team

Rail News Home Canadian Pacific 8/8/2019 Rail News: Canadian Pacific
image Canadian Pacific yesterday announced organizational changes to support its profit and growth strategies.Effective Sept. 1, Mark Redd will begin his new role as executive vice president of operations. He will succeed Robert Johnson, who is retiring at the end of September. Redd joined CP in 2013 and most recently served as senior VP of operations in the western region.Also retiring in September is Tony Marquis, senior VP of operations in the eastern region. CP President and Chief Executive Officer Keith Creel expressed the company's thanks to Johnson and Marquis for their "service and dedication" to CP."Robert and Tony have developed an incredibly capable and dedicated operating team and I am excited to welcome Mark to lead that team," Creel said in a press release.Tracy Miller will succeed Marquis as senior VP of operations in the eastern region, while Greg Squires will serve as VP of operations in the western region. Both will report to Redd."As we advance in our precision scheduled railroading evolution, the importance of developing and empowering people cannot be overstated," Creel said. "Because of our bench strength and our unwavering commitment to developing the 13,000-strong CP family, we have strong options within when it comes to succession."Also effective Sept. 1, VP of Human Resources Chad Rolstad will add chief culture officer to his title. James Clements, who joined CP more than 20 years ago, will become senior VP of strategic planning and technology transformation. VP and Chief Information Officer Mike Redeker will report to Clements."Culture is the bedrock of a high-performing organization, and in Chad we have a leader who understands that," Creel said. "James is well equipped to take on the additional responsibility and has an innate ability to connect pieces across the company to the benefit of our customers."

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CP logs record crop year for Canadian grain, products

Canadian Pacific announced yesterday it moved 26.8 million metric tonnes (MMT) of Canadian grain and grain products during the 2018-2019 crop year, a 2.8 percent increase over the previous year and an all-time record for the Class I.

The amount of grain and grain products shipped during the year, which ran Aug. 1 through July 31, was 3.9 percent more than the railroad's three-year average. Over the past five years, CP has consistently shipped more grain each year, CP officials said in a press release.

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Canadian Pacific joins blockchain alliance

Canadian Pacific announced yesterday that has joined the Blockchain in Transport Alliance (BiTA).

CP is the latest Class I to join BiTA, which is developing new standards for using blockchain technology to enable a faster, more cost-efficient and transparent freight supply chain.

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CP posts record Q2 results; names Hamberger, Robertson to board

Canadian Pacific today announced a record-setting second quarter, during which revenue climbed 13 percent to CA$1.98 billion compared with the same quarter a year ago.

The Class I posted adjusted income of CA$602 million, or CA$4.30 per share, from CA$453 million, or CA$3.16 per share, a year earlier.

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CP recognized for logistics excellence

Rail News Home Canadian Pacific 6/19/2019 Rail News: Canadian Pacific
image Canadian Pacific was named "Best Logistics Service Provider-Rail" at the Asian Freight Logistics and Supply Chain Awards ceremony held June 17 in Hong Kong.The award recognizes CP for service quality, innovation,customer-relationship management and reliability, according to a CP press release."The CP teams in Asia and North America are focused on driving sustainable, profitable growth and this award demonstrates our customers' confidence in CP's service offering," said President and Chief Executive Officer Keith Creel. "We are committed to providing our customers with superior and reliable freight rail options from the Port of Vancouver to the rest of North America."CP was the only North American railroad nominated for the award."Since opening our Shanghai office last year, we have focused on deepening our relationships in Asia, starting with gaining a better understanding of our customers' needs," said Corey Heinz, CP's managing director, Asia.

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